Newsletter of Wharton
Property Advisors, Inc. - January, 2010
Re: Best Deals on Office Space in New
York
City
"It's tough to make predictions, especially about the future."
Lawrence Peter "Yogi" Berra b. 1925
Hall of Fame Baseball Player and Manager
Even a sage like Yogi Berra is occasionally wrong. Rents have dropped 30% to 50% across New York City. Accordingly, we predict that now is a great time to lock in a long term lease which could be a major asset to your company going forward.
We at Wharton Property Advisors are monitoring the market closely and scouring the available opportunities for bargains that will benefit our clients. As always, we stand ready to assist with any of your office space needs.
Is your lease coming due soon or have you outgrown your space? If so, then Wharton Property Advisors can help. We search NYC for the most advantageous office space situations and then help our clients negotiate favorable terms. Or, if you like your current space, we can help renegotiate your lease. We always represent our clients with honesty, diligence and integrity.
Below is a sampling of the best deals now available.
Building
RSF
Rent
Comments
1 East 52nd Street
6,550
Mid $50's
Sublease from Coventry Real Estate Partners. High end installation, built with 8 windowed offices, 2 windowed conference rooms, large open area. Lease term: through September 2014.
153 East 53rd Street
29,985
$60
Sublease from Kirkland & Ellis. Full floor in move-in condition with 25 windowed offices, 4 conference rooms, boardroom, 10 workstations, 20 trading positions, 2 pantries. Lease term: 4 to 5 years.
216 East 46th Street
12,500
Mid-High $20's
Sublease from Sony Pictures. Built with 14 windowed offices, interior conference room, large open area. Furniture and phones are available. Sublease term: through March 2011.
26 West 17th Street
6,192
Low $30's
Sublease from John Varvatos. Built with 8 windowed, glass fronted offices, windowed conference room, open area. Excellent light and views. Lease term: through May 2013.
130 West 42nd Street
2,850
Mid $30's
Direct space. Built with 4 windowed offices, 2 interior offices, open area. Lease term: 5 to 10 years.
1270 Avenue of the Americas
4,017
Low $50's
Sublease from Vestry Capital. Built with 7 offices, conference room, open area. Furniture can be made available. Lease term: through September 2012.
666 Fifth Avenue
7,585
$59
Sublease from Fulbright & Jaworski. Built with 12 windowed offices, conference room, windowed private bathroom. Lease term: 3 to 5 years.
712 Fifth Avenue
1,866
High $60's
Sublease from CapitalSpring LLC. High end installation with 2 offices, conference room. Furniture is available. Sublease term: through September 2015.
767 Fifth Avenue
9,989
$70
Sublease from Jana. Built with 5 windowed offices, 2 conference rooms, 29 trading positions. Lease term: 3 to 8 years.
520 Madison Avenue
14,051
$45
Sublease from Allied Capital. Built with 14 windowed offices, 12 interior offices, conference room, large open area. Lease term: through September 2014.
90 Park Avenue
4,500 to 19,024
Low $40's
Sublease from Rodale Publishing. Built space, office intensive with both windowed and interior offices, corner conference room. Lease term: through May 2017.
1 State Street Plaza
27,030
Low $30's
Sublease from Ambac Financial. Above standard wood and glass installation, built with 21 windowed offices, 4 corner offices, 2 boardrooms, 2 conference rooms. Hudson and East River and Statue of Liberty views. Furniture is included. Lease term: through September 2019.
605 Third Avenue
19,871
$39
Sublease from Ludwig Cancer Group. Above standard installation with wood and glass finishes. Lease term: through September 2013.
14 Wall Street
3,273
High $20's
Sublease from Direct Access Partners. Newly built with 1 windowed office, windowed conference room, 15 trading positions, 1 workstation. Lease term: through June 2012.
875 Third Avenue
10,144
High $30's
Sublease from Elan Pharmaceuticals. Above standard installation, built with 6 windowed offices, 2 interior offices, boardroom, conference room, open area. Lease term: through February 2016.
1 Whitehall Street
1,212
Mid $20's
Sublease from Vision Financial Markets, LLC. Built with 2 offices, conference room, open area. Lease term: through February 2011.
1 World Financial Center
12,154
$36
Sublease from ED & F Man. Corner unit built as mostly open plan with 6 windowed offices, 2 conference rooms. Furniture is included. Lease term: through April 2017.
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