Newsletter of Wharton
Property Advisors, Inc. - May,
2008
Re: Best Deals on Office Space in New
York
City
"The market can stay
irrational longer than you can stay
solvent." John Maynard
Keynes
While current office space rents may seem
excessively high, the recent statistics indicate that
there is a rationale behind the current high office
rents. The New York State Department of Labor
indicated that there is good news and bad news.
The good news is that the number of private-sector jobs
in the city was up 1.1% in April 2008 compared to April
2007. The bad news? Since office rents are
predicated on employment, rents may not decline until
there is more significant job
loss. In the meantime, we are
beating the bushes for the bargains which now
exist.
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
485 Lexington Avenue
4,931
$80
Newly built with 4 perimeter offices,
conference room, workstations for 40, an above
standard trading installation, in move-in
condition. Lease term thru August
2016.
420 Lexington
Avenue
7,000
$60
Built with 10 perimeter offices,
conference room open area and reception.
Lease term thru August
2011.
530 Seventh Avenue
3,800
$52
Brand new installation, 6 months
old. Built with 6 perimeter offices, large
open area. Lease term through January
2017.
317 Madison Avenue
1,300
to 7,000
$55
Direct lease, newly built, turnkey spaces
of various sizes and configurations, 5 to 10
year leases.
325 Hudson
Street
4,000
$45
Built space including reception area,
break room, conference room, 20 cubicles (no
private offices). Lease term thru December
2015.
80 Broad
Street
4,760
$43
Recently constructed
with 5 perimeter offices, large open area,
move-in condition, furnished and wired. Lease term thru November
2013.
14 Wall
Street
2,195
$50
Built with 4
windowed offices, 1 interior office, 4
workstations, free access to 4 conference rooms
and law library. Shared space with law
firm. Lease term thru April
2009.
1 State Street Plaza
8,978
5,524
7,769
4,759
$41 $41 $41 $41
Built spaces, with great views of the
harbor and Statue of Liberty. Furniture
and phones available. Lease term thru
November
2012.
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
