Downtown Manhattan Sublease

75 Maiden Lane Unit 704 (Floor 7)
Financial District, New York City, NY
Spacious, almost brand new creative office space, polished concrete floors, open ceilings 12.5" feet high, huge windows, the unit includes heat, water (in kitchen), and air conditioning, corner suite with wrap around exposures and Northeast/East/Southeast views, built with very high end finishes throughout, open layout makes it seem significantly larger, currently configured to accommodate 24 full time workers, with a private, windowed executive office, A large kitchen/conference room with high end European cabinetry and designer stainless steel appliances, the conference room includes a table for six to eight people, integrated speakers for surround sound, and a stereo receiver to control all located in a small server closet which may also be used for storage, A top of the line internet installation provides consistently reliable service, with wall jacks conveniently placed throughout the space on all applicable walls, as well as integrated power outlets, current tenant has outgrown space faster than expected and requires additional square footage; they are anxious to make a deal for the right tenant to take the space for the remaining 3.5 years on the lease, which may be extended, electricity is metered separately for usage, our electricity bill has never exceeded $300 per month, and this is with 25+ computers and other appliances running full time, space is being offered furnished or unfurnished, and rental rate negotiable

Downtown Manhattan

Office Space Market Report

Number of Listings (last 90 days)
Median Rate ($/sqft/yr)
Median Size (sqft)
As of: October 22, 2016

Downtown Manhattan Rates

The typical asking rate per listing is in the $60's per square foot per year. The Downtown Manhattan submarket is seeing a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 7% decrease in rent.

Compared to the rest of the New York City market, the Downtown Manhattan submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Downtown Manhattan Listing Supply

In the last 90 days, 313 listings have been listed, so you'll want to check back regularly for new listings. About 10% of the available leases in the Downtown Manhattan are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.

Even though the median size is 3,200 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are close to 6 stories. Most buildings in this area were built in 1913 and are Class A.

Downtown Manhattan Community

A large portion of this market is residential, but there's plenty of office_space. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Manhattan occupants. Commuting close to an hour and a half 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 Downtown Manhattan.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Downtown Manhattan.