Sublease for Hedge Funds, Private Equity & Investment Banking

Photo by Zoe Holling

Sublease for Hedge Funds, Private Equity & Investment Banking

Hedge Funds, Private Equity & Investment Banking demand elite office spaces to:

• Showcase their company’s success
• Impress existing and prospective clients
• Solidify their company brand
• Attract and retain top talent

Due to the rapidly changing cultural and business environment, optimizing your office is more important than ever. For many financial firms an Office Sublease is the ideal solution:

1. Rent is Dshorter than that which would be offered by the building owner on a direct lease basis.

3. Office space is usually delivered pre-built and finished. This eliminates the necessity of large capital outlays to renovate the space.

4. Inclusion of furniture, phones, network cabling, etc. This yields substantial savings.

5. Turn-key, move-in condition saves time.

Call Cogent Realty Advisors, licensed no fee Tenant Representative . (212) 509-4049. 

 

Curated List of Sublease Offices for Elite Financial Companies

As of April 2023 there was 24.1M square feet of sublease offices for rent in Manhattan. The sublease inventory is projected to increase. Contact Cogent Realty with your specific requirement: (212) 509-4049.

 

Photo courtesy Costar

712 Fifth Avenue: 2,778 RSF. Furnished and wired. Term thru March 2024. Asking $18,520 per month.

Remarks: A Plaza District classic. Impressive selection of nearby restaurants.

 

 

 

 

 

 

 

 

 

 

 

540 Madison Avenue: 2,723 RSF. Furnished and wired. Term thru August 2025. Asking $22,010 per month.

Remarks: Trophy building with distinguished Tenant list. Short walk to new Madison Grand Central.

 

 

 

 

 

 

 

 

Penn 1: 2,984 RSF. Furnished and wired. Term thru July 2025. Asking $14,920 per month.

Remarks: New 160,000 SF Tenant Amenity Center includes restaurants, lounges, conference rooms, fitness center

 

 

 

 

 

 

 

 

 

 

 

 

Photo by Brendon Spring

One World Trade Center: 2,747 RSF. Furnished and wired. Term thru February 2025. Asking $18,542 per month.

Remarks: Spectacular views. Link to our informative Rental Guide.

 

 

 

 

 

 

 

 

 

 

Finding the Perfect Office Space is a Big Decision

Cogent Realty Advisors is an independent, licensed New York State commercial realtor founded in 2002.

•As a tenant-representation company, Cogent Realty is focused solely on representing the interests of  business Tenants that rent office space.

•Tenants pay no fee for using our service.

•Cogent provides objective expertise in finding office space and negotiating lease agreements. Our experience and knowledge in the New York market means that we can secure the best office space for you with favorable terms and pricing.

For help with your office real estate, contact Mitchell Waldman: (212) 509-4049.

#SubleasesFinancialCompany

The post Sublease for Hedge Funds, Private Equity & Investment Banking appeared first on Rent NY Office.

New York Office Market Report & Trends, Q1 2023

New York Office Market Report & Trends, Q1 2023

Are you looking to rent a New York office?

With this report your businesses will gain the insights and data needed to make smart decisions when leasing an office. It provides detailed information on rental prices and availability in different parts of the city.

To optimize your budget, reliable market data is key for making the informed decisions needed for finding the perfect office space.

Contact Cogent Realty: (212) 509-4049.

 

 

 

Office Leasing Statistics

CoStar is the world leader in commercial real estate information and has the most comprehensive database of real estate data throughout the US, Canada, UK, France, Germany, and Spain. Costar Group Inc. includes well- known brands like Loopnet, Emporis, Apartments.com, Home.com and BizBuySell.

Key Costar New York Office Building Indicators:

• Asking Rent/SF: $55.84 ↑*  (*Weighted average across Manhattan office buildings.)
• Vacancy Rate:  17.9% ↑
• Inventory SF: 453M ↑
• Existing Buildings: 1,599 ↑

 

Courtesy of Lex Photography

Asking Rents in Popular Neighborhoods*

Grand Central- $57.58.  38th- 47th Street & Fifth- Second Avenue

Plaza- $64.79. 47th- 65th Street & Fifth Avenue- East River

Columbus Circle- $61.04. 50th- 65th Street & Sixth Avenue- Hudson River

Time Square- $48.62. 50th- 42nd Street & Fifth Avenue- East River

Penn Station/Fashion- $45.68. 30th- 42nd Street & Fifth Avenue- Hudson River

Murray Hill- $48.97. 38th- 30th Street & Fifth Avenue- River

U.N. Plaza- $68.76. 48th- 38th Street & Second Avenue- East River

Chelsea- $47.49. 12th- 30th Street & Fifth Avenue- Hudson River

Grammercy Park- $71.03. 12th- 30th Street & Fifth Avenue- East River

Greenwich Village- $57.02. 12th- East Houston Street & Sixth Avenue- River

Soho- $64.65. East Houston- Canal Street & Sixth Avenue- East River

Hudson Square- $46.58. 12th- Canal Street & Sixth Avenue- River

Tribeca- $74.00. Murray- Canal Street & Church Street- Hudson River

City Hall- $49.82. Canal- Vesey Street & Church Street- East River

Financial- $56.15. South Street- Maiden Lane & Broadway- East River

Insurance- $47.64. Brooklyn Bridge- Liberty Street & Broadway- East River

World Trade Center- $51.01 Murray- State Street & Broadway- Hudson River

Upper Eastside- $53.29. 110th- 65th Street & Fifth Avenue- East River

Upper Westside- n/a. Cathedral Parkway- 64th Street & Central Park West- Hudson River

Harlem/North Manhattan- $47.77.  Inwood Park- 110th Street & Harlem- Hudson River

Brooklyn and Queens- $37.23 and $42.62.                                                                                 

*Weighted average across neighborhood office buildings.

 

Cogent Realty’s Perspective on the Local Marketplace

1. Office Tenants continue to have an advantage when negotiating new leases and lease renewals.
2. There is fierce competition among building owners to secure new business and retain existing Tenants.
3. Successful companies are leasing high quality office space in amenity-rich buildings at favorable terms.
4. Class A and “in demand” properties are competing by offering Tenant Incentives including rent concessions (the free rent period) and cash contributions used for the construction of new offices.
5. Lower quality “commodity” properties are offering substantial rent discounts.

 

Workplace Trends

The Partnership for New York City surveyed 160 major Manhattan employers between January 5 and January 28, 2023 to gauge the extent to which employees have returned to the office or are still working remotely.

Key take-aways include:

• As of late January 2023, 52% of Manhattan office workers are currently at their workplace on an average weekday, up from 49% in September 2022.
• 82% of employers indicated a hybrid office schedule will be their predominant policy in 2023. For employers with a hybrid model, the survey reports that 59% of employees are in the office at least three days a week.
• Many employers expanded New York City headcount during the pandemic and remain committed to the city: 40% increased their New York City headcount during the pandemic and 38% maintained headcount levels; only 21% decreased headcount. 
• While 29% of employers have reduced their real estate footprint since February 2020, 17% increased their footprint and 54% had no change.

 

Commercial Real Estate News

REBNY’s new return-to-office gauge paints bright view for ‘trophy’ towers

 

 

 

 

Office Landlords To U.S. Government: Without Help, We’re Heading For A Financial Catastrophe

 

 

Tallest Buildings in New York City

 

 

Finding the Perfect Office Space is a Big Decision

Cogent Realty Advisors is an independent, licensed New York State commercial realtor founded in 2002.

•As a tenant-representation company, Cogent Realty is focused solely on representing the interests of  business Tenants that rent office space.

•Tenants pay no fee for using our service.

•Cogent provides objective, unbiased expertise in finding office space and negotiating lease agreements. Our experience and knowledge in the New York market means that we can secure the best office space for you with favorable terms and pricing.

For help with your office real estate, contact Mitchell Waldman: (212) 509-4049.

#NewYorkOffice

The post New York Office Market Report & Trends, Q1 2023 appeared first on Rent NY Office.

World Trade Center 84th Floor Turn-key Sublease

Photo courtesy Andreas H.

World Trade Center 84th Floor Turn-key Sublease

This blog reports on the availability of a turn-key sublease at the One World Trade Center, a building which Cogent Realty regards as one of the best in  New York City.

Sublease At a Glance:

• 84th Floor – spectacular light and views 
• 2,747 rentable square feet  
• Lease term thru 2/2025 
• Asking rent $81.00
• Fully furnished and wired
• Reception area
• 1 conference room
• 2 offices
• 11 workstations
• Telephone room
• Pantry

Contact Cogent Realty (212) 509-4049

 

 

 

Sublease Floor Plan

Prebuilt 2,747 rentable square feet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sublease Pictures

Original condition

 

 

 

 

 

 

 

Furnished and wired

 

 

 

 

 

 

 

 

 

Furnished and wired

 

 

 

 

 

 

 

 

 

 

 

 

 

Links for Information about other Subleases & Lower Manhattan

Downtown Sublease Deals in New York City

One World Trade Center Office Sublease

 

LOWER MANHATTAN is a great place to live and do business. There is 80 million square feet of office space, 64,000 residents and 1,100 retailers.

 

 

 

 

 

 

 

 

 

 

 

Finding the Perfect Office Space is a Big Decision

Cogent Realty Advisors is an independent, licensed New York State commercial realtor founded in 2002.

•As a tenant-representation company, Cogent Realty is focused solely on representing the interests of  business Tenants that rent office space.

•Tenants pay no fee for using our service.

•Cogent provides objective, unbiased expertise in finding office space and negotiating lease agreements. Our experience and knowledge in the New York market means that we can secure the best office space for you with favorable terms and pricing.

For help with your office real estate, contact Mitchell Waldman: (212) 509-4049.

#WorldTradeCenterSublease

The post World Trade Center 84th Floor Turn-key Sublease appeared first on Rent NY Office.

17 State Street Offices with New York Harbor Views

17 State Street Offices with New York Harbor Views 

17 State Street is a defining feature of the Lower Manhattan’s skyline. Its unique rounded architecture and mirrored glass windows deliver unobstructed 24- mile views of  New York Harbor and beyond. This top-tier office building is home to boutique financial, insurance, technology and legal service companies that experience the benefits of:

Contemporary Class A office building (1988) with 24/7 access, concierge, security monitoring and onsite property management

Elegant, energized office environments that encourage workplace participation

Close proximity to the NYSE, AMEX, courts, restaurants and residential housing

Easy access to subway, bus, ferry and highways

Rents that are substantially discounted when compared to comparable quality midtown offices.

Contact Cogent Realty for information: (212) 509-4049.

 

Guaranteed Views Forever

17 State Street’s location at the tip of Manhattan guarantees clear views forever.

 

 

 

 

 

 

 

Renting an Office at 17 State Street 

 

 

The post 17 State Street Offices with New York Harbor Views appeared first on Rent NY Office.

How Office Renters Can Take Advantage of a Depressed Market

How Office Renters Can Take Advantage of a Depressed Market

Enjoy our AI generated art.

How Office Renters Can Take Advantage of a Depressed Market:

• Office renters can take advantage of a depressed market by utilizing an experienced tenant representative broker like Cogent Realty Advisors. to negotiate their next discounted Lease. Phone (212) 509-4049.

• Building owners respond seriously to Tenants who are represented by Cogent Realty, because we  understand the business and work hard to negotiate the best lease for you at your current building or a new location.

• Taking advantage of this strategy will result in lower rent, an upgraded work environment, and time savings.

 

Office Property Owners are Struggling

Large and small, both public and private office property owners are struggling to fill vacancies as a result of a shift to hybrid work.

 

BXP CEO Owen Thomas: Commercial Real Estate Is ‘Currently In A Recession’

SL Green, NYC’s Biggest Office Owner, Reports Deepening Losses, Dropping Rents

 

 

Essential Information & Strategies for Office Renters in 2023

1. Office Tenants continue to have an advantage when negotiating new leases and lease renewals.
2. There is fierce competition among building owners to secure new business and retain existing Tenants.
3. Successful companies are leasing high quality office space in amenity-rich buildings at favorable terms.
4. Class A and “in demand” properties are competing by offering Tenant Incentives including rent concessions (the free rent period) and cash contributions used for the construction of new offices.
5. Lower quality “commodity” properties are offering rent discounts.
6. To motivate leasing, Landlords are using different strategies:

• Upgrading building public areas and applying Covid-19 health protocols.
• Pre-building modern move-in ready office suites.
• Offering flexible leases with shorter terms.
• Delivering office space fully furnished with an internet connection.
• Installing popular amenities such as a conference center, quick service dining, and a fitness/wellness center.

 

Recap Manhattan Office Leasing Statistics Year End 2022

Costar is the world leader in commercial real estate information and has the most comprehensive database of real estate data throughout the US, Canada, UK, France, Germany, and Spain. Costar Group Inc. includes well- known brands like Loopnet, Emporis, Apartments.com, Home.com and BizBuySell.

Key Costar Manhattan Office Building Indicators:

• Asking Rent/SF: $55.61 ↓*  (*Weighted average across Manhattan office buildings.)
• Vacancy Rate:  18.6% ↑
• Inventory SF: 412 M ↑
• Existing Buildings: 1,451 ↑

 

Finding the Perfect Office Space is a Big Decision

• Cogent Realty Advisors, Inc. is a licensed independent New York State commercial realtor founded by Mitchell Waldman in 2002.
• As a tenant-representation company, Cogent Realty is focused solely on representing the interests of  business Tenants that rent office space.
• Tenants pay no fee for using our service.
• Cogent provides objective, unbiased expertise in finding office space and negotiating lease agreements. Our experience and knowledge in the New York market means that we can secure the best office space for you with favorable terms and pricing.
• For help with your office real estate, contact Mitchell Waldman at (212) 509-4049.       

#OfficeRentersTakeAdvantage

 

 

 

The post How Office Renters Can Take Advantage of a Depressed Market appeared first on Rent NY Office.

Cogent Realty Advisors Recognized by the Durst Organization

Cogent Realty Advisors recognized by the Durst Organization for its support in leasing significant space in New York City in 2022. The Durst Organization  is the owner of Class A properties including 13M square feet of office buildings and 3M square feet of residential buildings in New York City.

Crain’s New York Business, January 23, 2023.

 

About the Lease that Cogent Realty Negotiated

View from the Hudson River

Cogent Realty represented Lone Star Capital, a real estate investor, in the leasing of its headquarters office at One World Trade Center.

LINK TO THE STORY:

One World Trade Center Lease by Lone Star Capital

 

 

 

 

 

 

 

 

 

 

 

 

Renting an Office at One World Trade Center

Renting an office at One World Trade Center is a defining moment for a global business.

• A universally recognized symbol of prosperity, freedom and resilience

• An ultra-modern urban design with rich corporate amenities and best-in-class technology, efficiency and safety

• Excellent value for your rental dollars

• Most work spaces are designed as wide-open collaborative environments, although tradition layouts with perimeter glass fronted offices are  available.

• Asking rents are from $73.00 to $85.00 per rentable square foot (PSF) depending on the floor and view.

LINK TO THE RENTAL REPORT:

One World Trade Center Office Rental Guide 

Finding the Perfect Office Space is a Big Decision

• Cogent Realty Advisors, Inc. is a licensed independent New York State commercial realtor founded by Mitchell Waldman in 2002.
• As a tenant-representation company, Cogent Realty is focused solely on representing the interests of  business Tenants that rent office space.
• Tenants pay no fee for using our service.
• Cogent provides objective, unbiased expertise in finding office space and negotiating lease agreements. Our experience and knowledge in the New York market means that we can secure the best office space for you with favorable terms and pricing.
• For help with your office real estate, contact Mitchell Waldman: (212) 509-4049.                   

#Durst&CogentRealty

 

The post Cogent Realty Advisors Recognized by the Durst Organization appeared first on Rent NY Office.

New York Office Leasing News Q4 2022

New York Office Leasing News Q4 2022

Business owners, get ready to gain insight into NYC’s office leasing market! Our report breaks down the activity in terms of rental prices and availability. Read on for a comprehensive look at what New York City has to offer – this could be extremely valuable information when it comes time for your business relocation!

Contact Cogent Realty: (212) 509-4049.

 

 

 

 

The Partnership for New York City surveyed 160 major Manhattan employers between August 29 and September 12, 2020 to gauge the extent to which employees have returned to the office or are still working remotely. Key take-aways include:

• Return to office rates are increasing and 54% of workers are expected in the office on an average weekday in January 2023.
• 77% of employers indicated a hybrid office schedule will be their predominant post-pandemic policy, largely in response to employee preference.
• Employers remain committed to staying in New York City: 54% expect their office employee headcount will increase or stay the same over the next five years; only 10% expect a decline. Moreover, most do not have plans to reduce their real estate footprint in the city at this time despite the increase in days of remote work.

 

Manhattan Office Leasing Statistics

Costar Group Inc. is NASDAQ: CSGP

 

CoStar is the world leader in commercial real estate information and has the most comprehensive database of real estate data throughout the US, Canada, UK, France, Germany, and Spain. Costar Group Inc. includes well- known brands like Loopnet, Emporis, Apartments.com, Home.com and BizBuySell.

 

Key Costar Manhattan Office Building Indicators:

• Asking Rent/SF: $55.61* ↓ (*Weighted average across all Manhattan office buildings.)
• Vacancy Rate:  18.6% ↑
• Inventory SF: 412 M ↑
• Existing Buildings: 1,451 ↑

 

Asking Rents in Popular Neighborhoods*

Grand Central- $57.17.  38th- 47th Street & Fifth- Second Avenue

Penn Station/Fashion- $45.49. 30th- 42nd Street & Fifth Avenue- Hudson River

Plaza- $64.31. 47th- 65th Street & Fifth Avenue- East River

Columbus Circle- $61.51. 50th- 65th Street & Sixth Avenue- Hudson River

Time Square- $65.23. 50th- 42nd Street & Fifth Avenue- East River

U.N. Plaza- $68.76. 48th- 38th Street & Second Avenue- East River

Chelsea- $47.97. 12th- 30th Street & Fifth Avenue- Hudson River

Murray Hill- $49.90. 38th- 30th Street & Fifth Avenue- River

Grammercy Park- $71.25. 12th- 30th Street & Fifth Avenue- East River

Greenwich Village- $49.51. 12th- East Houston Street & Sixth Avenue- River

Soho- $65.54. East Houston- Canal Street & Sixth Avenue- East River

Hudson Square- $47.71. 12th- Canal Street & Sixth Avenue- River

Tribeca- $74.00. Murray- Canal Street & Church Street- Hudson River

City Hall- $50.25. Canal- Vesey Street & Church Street- East River

Financial- $56.07. South Street- Maiden Lane & Broadway- East River

Insurance- $49.18. Brooklyn Bridge- Liberty Street & Broadway- East River

World Trade Center- $51.00. Murray- State Street & Broadway- Hudson River

Upper Eastside- $54.07. 110th- 65th Street & Fifth Avenue- East River

Harlem/North Manhattan- $49.65.  Inwood Park- 110th Street & Harlem- Hudson River

Brooklyn and Queens- $37.12 and  $44.25.

*Weighted average across neighborhood office buildings.

 

Cogent Realty’s Perspective on Manhattan Office Leasing

1. Office Tenants continue to have an advantage when negotiating new leases and lease renewals.
2. There is fierce competition among building owners to secure new business and retain existing Tenants.
3. Successful companies are leasing high quality office space in amenity-rich buildings at favorable terms.
4. Class A and “in demand” properties are competing by offering Tenant Incentives including rent concessions (the free rent period) and cash contributions used for the construction of new offices.
5. Lower quality “commodity” properties are offering rent discounts.
6. To motivate leasing, Landlords are using different strategies:

• Upgrading building public areas and applying Covid-19 health protocols.
• Pre-building modern move-in ready office suites.
• Offering flexible leases with shorter terms.
• Delivering office space fully furnished with an internet connection.
• Installing popular amenities such as a conference center, quick service dining, and a fitness/wellness center.

 News Reports about New York Office Leasing

Premium Office Leases Surged in Manhattan Last Year

190 Manhattan office leases were priced at more than $100 per SF in 2022

 

Analysis: More office tenants ditching aging buildings for new digs

Manhattan relocations during pandemic have overwhelmingly favored Class A properties

Remote work is gutting downtowns, forcing leaders to reinvent the postpandemic city. 

Before the pandemic, 95% of offices were occupied. Today that number is closer to 47%.

 

Finding the Perfect Office Space is a Big Decision

• Cogent Realty Advisors, Inc. is an independent and licensed New York State commercial realtor founded by Mitchell Waldman in 2002.
• As a NO FEE tenant-representation company, Cogent Realty Advisors Inc., is unique in the commercial real estate industry. While many firms work for both building owners and tenants, we focus solely on representing the interests of clients.
• We provide objective, unbiased expertise in finding office space and negotiating lease agreements. Our experience and knowledge in the NYC market means that we can secure the best office space for our clients with favorable terms and pricing.
• Put simply, Cogent Realty Advisors, Inc. is dedicated to getting our clients the best deal possible.
• For help with your office real estate, contact Mitchell Waldman: (212) 509-4049.                   

#NewYorkOfficeLeasingNewsQ42022

 

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