SUBLEASES GALORE

Newsletter of Wharton Property Advisors, Inc. - April, 2010

Re: Best Deals on Office Space in New York City

 

                "For winter's rains and ruins are over, and all the season of snow and sins
                ...blossom by blossom the Spring begins."


                                                                                            Algernon Charles Swinburne                                                                                   


Predictions are always uncertain, but it appears that our long national economic ruin may finally be coming to an end. As part of its wreckage, New York City office rents are down 20 to 40% on average. This may not last forever. Accordingly, now may be an advantageous time to think about locking in a new lease.

Below is a sampling of the best deals now available.

 

 Building  

 RSF 

 
 Rent
 

Comments 

             
  21 West 38th Street  

 4,465

 

 $28

 

Sublease from Leeward International. Full floor, in move-in condition, built with 4 windowed offices, 3 open areas. Furniture is available. Lease term: through April 2014.

             
  30 Broad Street  

 2,796

 

 $25

 

Sublease from Statpro. Built with 1 windowed office, windowed conference room, open trading area. Lease term: through December 2014.

             
  140 Broadway  

1,673

 

Low
to
Mid
$30's

 

Sublease from Index Atlas Group. Two-year old build-out with 1 windowed office, 1 interior office, conference room, harbor views. Lease term: through December 2013.

             
  140 Broadway  

 11,970

 

Mid
$30's

 

Sublease from Dominion Bond Rating Service (DBRS). Reasonable divisions will be considered. Space is raw, but will be built out to tenant's specifications. Landlord will give a $60/sf work letter. Lease term: through June 2017.

             

  1675 Broadway

 

16,593

 

$46

 

Sublease from Mayer Brown. Built with a mix of windowed and interior offices, conference rooms. Access to sublandlord's cafeteria. Lease term: through August 2015.

             

  500 Fifth Avenue 

 

2,800

 

 $33

 

Sublease from Zara. Brand new space, totally open, ideal for trading area or workstations, windows overlooking the main NYC Public Library. Lease term: 3 to 5 years.

             

  767 Fifth Avenue

 

6,050

 

$98

 

Sublease from IMG. Office-intensive, built with 10 windowed offices with mahogany exterior framing and interior conference room. Lease term: through August 2014.

             

  575 Lexington Avenue

 

11,282
8,069
9,715

 

$45
$40
$40

 

Sublease from Boies Schiller. Built with a mix of windowed and interior offices, interior workstations. Lease term: 2 to 5 years. All 3 spaces can be rented together for a total of 29,066 sf.

             

  641 Lexington Avenue 

 

6,343

 

 $48

 

Sublease from Nespresso. One-year old installation, built with 9 windowed offices, windowed conference room, 15 workstations. Lease term: 5 to 8 years.

   

 

 

 

 

 

  590 Madison Avenue 

 

 10,000
to
25,125

 

 $40

 

Sublease from IBM. Built as a column-free, wide-open installation, ideal for a trading or creative firm. Sublandlord will divide. Lease term: through August 2014.

   

 

 

 

 

 

  747 Third Avenue 

 

 2,951

 

 Low
$40's

 

Sublease from Capital Management Advisors. Built with 5 windowed offices, windowed conference room, trading area. Lease term: Through April 2015.

   

 

 

 

 

 

  830 Third Avenue 

 

 6,000

 

 $45

 

Sublease from Commonwealth Associates. Built with 5 windowed offices, 3 interior offices, 2 conference rooms, trading area. Lease term: through January 2013.

   

 

 

 

 

 

  850 Third Avenue 

 

 3,593

 

High
$40's

 

Sublease from Easy Forex US Ltd. Brand new, turn-key installation, built with 4 windowed offices, windowed conference room, open trading area, furniture and phone system are available. Lease term: through January 2013.

   

 

 

 

 

 

  7 Times Square 

 

14,374

 

 $49

 

Sublease from Day Pitney. Built with 17 windowed offices, windowed conference room, open trading area. Incredible views. Knoll furniture available. Lease term: through October 2014.

   

 

 

 

 

 

  99 Wall Street 

 

4,734

 

 $29

 

Sublease from DH Consulting. Built with 4 windowed offices, windowed conference room, open trading area, East River views. Lease term: 3 to 10 years.

Contact Ruth Colp-Haber at (212) 759-0408 or contact us for more details about these spaces and other opportunities.

Wharton Property Advisors, Inc. helps NYC office tenants find and dispose of office space.  We provide the full range of commercial real estate services.  Finding and negotiating great deals is our specialty.  Moreover, we represent our clients with intelligence, honesty and diligence!!

Contact an Agent at Wharton Property Advisors, Inc. to handle your office space lease or sublease.
Ruth Colp-Haber
Wharton Property Advisors, Inc.
New York City Office Space Specialists
909 Third Avenue - 5th floor, New York, NY 10022
Phone: (212) 759-0408

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