Murray Hill Office Space

110 E 40th St Floor 2
Murray Hill, New York City, NY
New-to-the-market is an impressive dental office in the Grand Park Office Condominium. The Grand Central neighborhood is a lively and convenient location with great foot traffic and retail/professional spaces. The office is walking distance to Grand Central Terminal and Bryant Park. Commuting is a breeze with access to various subway lines such as 4,5,6,7, B, D, F, M, S and the Metro North trains. This is the ideal location to place your dental practice with connection to the rest of New York City. The dental office has 1500 square feet available on the 2nd floor. The office is completely move-in ready and built-out as a dental office. There is one dental chair and one consultation room currently in the space. A private reception and waiting area is situated in the front of the office to greet patients and staff. The office features amazing natural light with large open windows to brighten the space. This beautifully designed office space is perfect your next dental or medical office. The Grand Park Office Condominium Building has a beautifully renovated entrance lobby with stunning stone features. The lobby features an ADA lift and lobby attendant with 24/7 access to the office. The building also offers access to a stunning courtyard. The building has a tenant mix of IT companies, financial firms, not-for-profit organizations, and high-end healthcare providers. Medical or any office use are accepted. Key Features: - Class AAA Building Located between Park Avenue and Lexington Avenue - Recently Renovated Lobby with ADA Access - 2nd Floor Dental Office Space - 1 Dental Chair Room - 1 Consultation Room - Private Reception/Waiting Room - Private Sub-Entrance - Direct Access off the Elevator - Access to Courtyard - Fully Wired with Data and Voice Lines - Convenient Location to Grand Central Terminal & Bryant Park - Accessible Transportation: 4, 5, 6, 7, B, D, F, M, S, and Metro North - 24/7 Lobby Concierge & Office Access For Further Information, Please Contact: Stanley J. Piesh Executive Managing Director Exclusive Agent Direct: (212) 594-7354 Cell: (917) 282-8590 Fax: (212) 268-5742 E mail: spiesh@primemanhattan.com

Murray Hill

Office Space Market Report

Number of Listings (last 90 days)
70
Median Rate ($/sqft/yr)
$71
Median Size (sqft)
1,970
As of: May 21, 2017

Murray Hill Rates

Most listings are in the $70's per square foot per year. The Murray Hill submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $20 per sqft per year. That's a 22% decline in rent.

Compared to the rest of the New York City market, the Murray Hill region has higher rates, and you'll need to pay a premium to be in this hot region.

Murray Hill Listing Supply

In the last 90 days, 70 listings have been made available, so you'll want to check back regularly for new listings. About 3% of the listings in the Murray Hill are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 1,970 sqft. Most buildings in this area are around 6 floors. Most buildings in this area were built in 1920 and are Class A.

Murray Hill Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Murray Hill residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Murray Hill.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Murray Hill.
Research