Midtown Manhattan Sublease

544 W 27th St Listing
Chelsea, New York City, NY
- Space is gorgeous - Dedicated conference room - Dedicated private office - Updated electrical and data installed - Conference room wired and ready for flat screen TV, Apple TV, and HDMI connections - Shared large modern kitchen - Flexible lease terms - Office could be one space, or divided into co work - Lease term may be extended to two years - Call for pricing - Currently accommodating 25 desks - Utilities and amenities extra - Term negotiable (1 - 3 years) The sqft rate is based on designer made, perfectly plug and play ready, turn key occupancy (no need to invest cash or time to build space out)! Beautifully designed and freshly renovated loft space available as a shared sublet. Located on one of the hippest streets in Chelsea at 544 West 27th Street (between 10th and 11th Ave), at the center of the Chelsea gallery district, our space is just steps away from the High Line, art galleries, Hudson Yards, fashion boutiques, chic restaurants and the Hudson River. Continuous windows on three sides flood the space with natural light. Save time and cash flow on renovating a space. This space is gorgeous and move-in ready. You must see it to appreciate it. This classic—and increasingly rare—Chelsea loft building features a newly renovated design with a beautiful original wood ceiling, and new hardwood floors. Appointed with flexible 21st century workstations and considered amenities such as a variety of meeting areas and hang-out zone, frosted sliding doors for privacy, two private bathrooms, and a spacious modern kitchen for impromptu gathering, brainstorming, and, of course, eating. The space is currently occupied by Tribeca Shortlist (http://tribecashortlist.com/) —a start-up joint venture betweenLionsgate (http://lionsgate.com/) and Tribeca Film Festival (http://tribecafilm.com/) —whose lease ends in August.

Midtown Manhattan

Office Space Market Report

Number of Listings (last 90 days)
1,507
Median Rate ($/sqft/yr)
$71
Median Size (sqft)
3,380
As of: December 3, 2016

Midtown Manhattan Rates

Most listings are in the $70's per square foot per year. The Midtown Manhattan submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 1% decrease in rent.

Compared to the rest of the New York City market, the Midtown Manhattan region has more expensive rates, and you'll need to pay a premium to be in this hot region.

Midtown Manhattan Listing Supply

In the last 90 days, 1507 listings have come on the market, so you'll want to check back regularly for new listings. About 18% of the available leases in the Midtown Manhattan are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

Even though the median size is 3,380 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 12 floors. Most buildings in this area were built in 1921 and are Class A.

Midtown Manhattan Community

This market is fairly equally mixed residential and commercial. Manufacturing is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Midtown Manhattan folk. Commuting approximately 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 Midtown Manhattan.
Market Report

Market Data

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