In St. George on Staten Island, space could be had for as little as $10 per square foot, but just 40 minutes away, on Manhattan’s coveted Upper Fifth Avenue, shops shell out as much as $3,900 per square foot on the world’s second-most expensive retail street. Most office buildings in Chelsea are Class A, but the neighborhood also has some Class B options. Average Commercial Rent per Square Foot. For more info on where to eat and drink in the neighborhood, check out our Chelsea Lunch and Coffee Guides. The best thing to do is to compare what you are paying to the average commercial rent per square foot by zip code. ... to free itself from a lease of nearly $1.6 million per month. Named for the triangular Flatiron Building at the intersection of 23rd Street, Broadway, and Fifth Avenue in Manhattan, the Flatiron District is the heart of Silicon Alley, the technology sector of  New York City. 104 West 27th Street: 104 West 27th Street is a Class B, high-rise office building with 72,000 square feet of rentable space spread throughout 12 stories and nine units. Anchored by Wall Street at the southern tip of Manhattan, the Financial District—sometimes abbreviated as FiDi—is arguably the world’s leading financial center. About . As new sky-scraping office towers rise in Manhattan, commercial rents are climbing too. Top Commercial Properties for Lease in Harlem. Asking lease rates for Class A+ office space in Manhattan jumped 9.5% between August and September, while overall office rents in the market climbed about 5.4% month-over-month. Former warehouses are now office spaces for ad agencies, boutique retailers, cafes, and art galleries. The average for office space per month in New York is about $6.16 per sq ft. San Francisco comes in a close second, with a monthly average cost of roughly $5.43 per square foot. Commercial construction costs are difficult to determine per square foot due to outside variables and factors. Newark Airport and JFK are within 20 miles of the neighborhood as well. $30,000. One of the hardest things about leasing office space in New York City is narrowing down the location, as there are so many great districts. This building presents a wonderful option for businesses searching for an office space near plenty of public transportation and lunch options. Chelsea, an area that attracts more than 6 million visitors each year, is an eclectic Midtown South neighborhood that is at the heart of one of New York City’s cultural cores. The mix of businesses in Chelsea may begin to shift, as rent prices rise and demand for proximity to both Hudson Yards and the Flatiron District grows. New York’s Financial District is a popular and affordable location to lease office space, with the average asking rent just over $61 per square foot. Manhattan Commercial Space For Rent: Nest Seekers International. 500 Mamaroneck Avenue Suite 320 Harrison, NY 10528. Annual quote: A 2,200 square foot office space is quoted rent of $11.50 per square foot. The first step is determining your budget, the square footage you need, what location you prefer and the potential construction costs, if needed. To get to 238 West 30th Street, use the Red, Orange, or Blue Lines at Penn Station. Find your perfect commercial property to let with Zoopla Search 37,905 restaurants, warehouses, serviced offices to let and more, in locations across the UK from thousands of local commercial lettings agents. Chelsea’s residential and commercial real estate landscape continues to evolve, in part due to Google, WeWork, and the Hudson Yards Redevelopment Project. Between 6th and 7th Ave. Flatiron. Office space in the Plaza District attracts two-thirds of all NYC hedge funds and is ideal for small to mid-sized financial services businesses. There’s a total of 138 retail listings available for rent in Queens, NY. How much does it cost to rent a store in NYC. Dine at restaurants such as The Red Cat, Salinas, or Bill’s Bar and Burger, or explore the first floor of Manhattan’s famous Chelsea Market for even more options. It is home to the Broadway theater district in Times Square, the United Nations in Midtown East, and famed New York City landmarks like the Empire State Building, Rockefeller Center, Grand Central Station, Bryant Park, and Madison Square Garden. Today, Chelsea is best known for its place at the center of the art world. Home . Monthly quote: Working with the same building and rent for a monthly amount works out to the annual quote of $25,300 divided by 12 months for a monthly rental amount of $2,108.33. With projected completion in 2024, soon Chelsea will benefit from 16 skyscrapers containing more than 12,700,000 square feet of new office, residential, and retail space. 914-287-6410 Email NYCRG » New York Commercial Realty Group. In New York, the average commercial space in trendy neighborhoods like Manhattan or Brooklyn is $120-per-square-foot. Commercial real estate owners, brokers and landlords have collectively made many hundreds of billions of dollars a year in recent years as the economy zipped along. Average base rental rate: $0.85 per square foot per month; Estimated operating expenses (NNN): $.25 per square foot per month; For this warehouse, the total asking lease rate is $1.10 per square foot per month. Manhattan. At $82 per square foot for full-service office leases, overall asking rents in Manhattan were 6% higher in Q3 versus Q2 2019, according to the latest report from COMMERCIALCafé. Sales; Rentals; Developments; Open Houses; Hamptons ... RETAIL STORE FOR LEASE---DRAMATIC STOREFRONT WITH 55 FEET OF FRONTAGE--Prime Chelsea Location--Union Square. These listings include 2 commercial spaces that encompass a total of 3,914 square feet. New York, NY 10029 Rentable Square Footage: 1,199 Rent: $40.00 per square foot 47,960 per year/3,996.67 per month. Based on publicly available commercial real estate leasing data, the average asking rent for New York office space is around $80 per square foot, and units in Class A buildings are a little under $90 per square foot. The 34th Street—Herald Square station is also closeby. Contact us for pricing or a tour of available offices at this property. Rents have settled down on Broadway between Houston and Broome streets with average asking rents of $755 per square foot down 9 percent from $831 a year ago. Click the "Customize" button above to learn more! This makes office space in Chelsea a great choice for businesses whose staff is largely based in New Jersey. 153 West 27th Street has a Walk Score of 100 and is easily accessible via trains 1, 2, 3, B, D, F, M, N, Q, R, W, C, E, and the PATH train. Specifically, current asking lease rates for Class A+ office space have reached $101 per square foot. Chelsea is a fantastic choice if you are seeking an office for rent. According to the 2012 Commercial Building Energy Consumption Survey (which was being updated as of 2018), commercial buildings spend $1.44 per square foot per year on electricity and $0.30 per square foot per year on natural gas. The High Line runs from Gansevoort Street to 34th Street near the Javits Center. When leasing, the price per square foot is usually an annual lease price, so it takes some math to get the monthly total: Multiply the number of square feet in the space by the price per square foot, then divide by 12. This initial filter ruled out most of the truly older properties in Manhattan (built prior to 1880). In 1884, Hotel Chelsea opened, and in 1868, Pike’s Opera House opened on this street. Available commercial spaces in Amityville, NY range in size from 822 square feet to 3,092 square feet. The rent per square foot calculator exactly as you see it above is 100% free for you to use. This pricing is comparable with other popular neighborhoods such as Hudson Square and the Plaza District. Basement/Basement Access not Available. In addition to the variety of foods Chelsea Market has to offer, our team recommends the following restaurants: Sweets by CHLOE, The Donut Pub, Momofuku Noodle Bar, Chelsea Brewing Pub, La Sirena, Rocking Horse Cafe, Sullivan Street Bakery, Salinas, and The Red Cat. We’re a new kind of commercial real estate company. Midtown office spaces give employees access to nearly unlimited options to benefit their work/life balance, including top-rated restaurants and outdoor space in Central Park and on the High Line. New York’s Financial District is a popular and affordable location to lease office space, with the average asking rent just over $61 per square foot. Businesses looking to join Chelsea’s creative, thriving business community should not be deterred by the low vacancy rates. Therefore the differences in requirements will affect the commercial construction costs. Across 2,121 unique spaces, there is a grand total of 1,669,944 square feet. Prices here can go as high as $4,000 per square foot for a … One of the best places to walk in Chelsea is the High Line, a linear park constructed on what used to be a train viaduct. Most of the rest of the viaduct had been demolished in 1960 and was effectively abandoned in the early 1980’s. Additionally, office subleases present a cost-effective, short-term option for fast-growing businesses that want added flexibility. Example with a yearly price per square foot: A 3,000 sf office space has a yearly asking rental rate of $25 per square foot. We help growing businesses win at finding their next office space, providing flexibility, transparency, and a stress-free process along the way. About 6 percent of the total inventory is vacant and available to new renters. You can now access our research tools and calculators for free on EdgeProp. Two units are currently available; one is 2,500 square feet in size, and the other is 2,600 square feet in size. Need more information on these buildings, or a list of spaces in Chelsea that will best suit your company’s needs? 104 West 27th Street has an attended lobby, 24/7 access, and a Walk Score of 99. Demand for Chelsea office space is high, and vacancy rates for offices in this neighborhood are among the lowest in the city. Across 229 unique spaces, there is a grand total of 927,206 square feet. Midtown South encompasses Manhattan neighborhoods such as Chelsea, Gramercy Park, Hudson Square, Greenwich Village, and SoHo. 118 W 17th St. The area is known as one of the city’s centers for art and culture, and the neighborhood is home to more than 200 galleries. $32,000. Contact us today to get in touch with one of our brokers, who will help you start your search. A good commercial buildout is well thought out and planned accordingly to fit a determined budget and schedule needs of the business. ... Our brokers have years of experience negotiating New York City commercial retail … We restricted ourselves to institutional grade properties, 10 or more stories, with elevators and whose total square feet is at least 250,000. Basement/Basement Access not Available $30,000 : GREAT RETAIL OPPORTUNITY ON E45th St/MADISON!! Go through our quick office space finder quiz to find the best spaces for your company. Get Started. Median asking price per square foot: $1,176; Cost for 900 square feet: $1,058,400; A 900-square-foot apartment in Queens’ most expensive neighborhood should cost just over a million dollars, making Hunters Point slightly more expensive than nearby neighborhoods like Long Island City (where the median price per square … It is well-known by locals and tourists alike for its expressive and diverse culture, with more than 200 art galleries, nearly 2,000 options for food and drinks, and an array of both boutiques and big chains for shopping. $29,500: PRIME … 238 West 30th Street: 238 West 30th Street is a 14-story office building located between 7th Avenue and 8th Avenue, within quick walking distance of Penn Station, the Fashion Institute of Technology, and the Manhattan Mall. Basement/Basement Access not Available. There are no two identical buildings. The variety of spaces range from 281 square feet to 129,228 square feet. A location’s cost per square foot impacts how many people you can serve and much you need to charge for your food to stay profitable. Currently, the neighborhood offers just over 24.4 million square feet of total inventory, with approximately 650,000 square feet more under construction as of Q1 of 2019. You can get an office here for an average of just under $78 per square foot. Here’s a few buildings you might like to explore: – 55 Water Street– 11 Broadway– 80 Maiden Lane– 420 Lexington Ave– 1412 Broadway. Numerous high-profile technology, finance, advertising, consulting, and retail firms are based in the area. Taft Houses (Store # 2)* 1714 Madison Avenue (Between E112th and E115th Street) New York, NY 10029 Rentable Square Footage: 845 Rent: $42.00 per square foot 35,490 per year/2,957.50 per month . You can get space in the Garment District for around $74 per square foot. Browse 58 commercial properties for rent in Bronx, NY, priced from $20 to $25,000. New York. These listings include 58 commercial spaces that encompass a total of 356,731 square feet. You can get an office lease here for an average of $84 per square foot. Examples of average cost for business rent per square foot by metro area. Dear Square Foot Research users, We are currently in the process of migrating a few basic features of Square Foot Research to EdgeProp. Prices collected are average rents measured in price per square foot for a sample of commercial buildings. Class A+ Office Rents Jump 9.5% in 1 Month. Earlier this year, Google’s parent company, Alphabet Inc., bought the Milk Building, a 325,000 square foot office and retail property. Developers were adding millions of square feet (SF) of new inventory… Read More. Midtown East. ... retail listings available for rent in Manhattan, NY. Commercial tenants are generally more business-oriented and experienced in leases. That means you may only get about 811 square feet of space for $5,000 a month, which isn’t enough for many growing and successful companies. Browse for the latest retail storefront, stores, restaurants & commercial properties to rent or buy and discover the right property for your needs. Whether seeking a single office space for rent for your New York City startup, or a whole floor for an established firm, the Financial District is a great place to look. This was followed by Edinburgh and Glasgow. For example, if you're renting a 500 square foot space for $1,500 a month, you will be paying $3 per-square-foot. Atlanta is the most affordable city with an average yearly cost to rent office space of $4,194 per employee per year. Need help finding the right office space in Chelsea? You can also filter your search by location, price, available space, asking price and more, making it easy to select what works best for you or your business. Begin by exploring these three SquareFoot-recommended office buildings in Chelsea: 153 West 27th Street: Constructed in 1913, this 12-story office building houses 28 total rentable units. Tenant touring activity and move-in’s strengthened relative to the beginning of the year, rents continue to climb, annual absorption is on track to close at 200 million square feet, and deliveries hit an all-time high. Chelsea is a highly accessible location, so commuters have no shortage of transportation options for getting to work. We’re a new kind of commercial real estate company. Contact Us. If you need to rent a small office space, or are looking to find coworking options from already furnished office spaces, those are also readily available throughout New York City. Businesses seeking office space in Chelsea can expect to pay an average of just over $96 per square foot per year. From New York, NY small retail spaces to space in shopping centers, find the option for your needs. Browse 441 commercial properties for rent in Hamilton, ON, priced from $1 to $495,000. You will typically see this quoted as an annual rate or a monthly rate. ft. in the Plaza District. Find Bronx, NY commercial for rent that best fit your needs. Most Expensive: Hunters Point. ft. x 3,000 sq. Available commercial spaces in Greenpoint, Brooklyn, NY range in size from 500 square feet to 27,000 square feet. Note: … Grab coffee at Dunkin’ Donuts barely .1 mile from the office, or stop by Brother Jimmy’s BBQ for lunch. In addition to MTA subways, Midtown has Pennsylvania Station, Grand Central Terminal, and the Port Authority Bus Terminal. In 2019, the average rent per square meter for industrial property in the United Kingdom (UK) was highest in London. Short for “Down Under the Manhattan Bridge Overpass,” DUMBO has quickly become one of the trendiest mixed-use neighborhoods in New York City. Chelsea is also accessible by bus routes M7, M10, M11, M12, M14, and M23, and houses the main entrance to the 34th Street—Hudson Yards station for the 7 train. Three units ranging from 2,200 to 6,000 square feet are currently available to rent. WebID# 981712. ... New York industrial insight - Q3 2020 Midwest. Chelsea has an abundance of inspiring office spaces that showcase endless possibilities for remodeling a workspace, with a variety of creative takes on conference rooms, private offices, workspaces, and more. While it may now seem easier to calculate your monthly rental rate, it can become far more complicated. Easily accessible and bursting with diversity, Chelsea is home to tech firms such as Google and Twitter. At $82 per square foot for full-service office leases, overall asking rents in Manhattan were 6% higher in Q3 versus Q2 2019, according to the latest report from … Chelsea is one of the most in-demand submarkets for office space in NYC. 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