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245 W 34th St

Garment District, New York, NY
Floors
17
Total Size
45,000 sqft
Lot Size
0 acres
Year Constructed
2015
Year Renovated
0
Number of Buildings
1

About 245 W 34th St

This brand-new property is located in New York's Midtown area at 245 West 34th Street. Construction on the mixed-use commercial building is set to complete in 2015. Plans for the building include 17 stories of rentable office space and hotel space and approximately 45,000 total square feet.

The first three levels of 245 West 34th Avenue are set to include high-end retail space. Approximately 8,257 square feet of the total area of the building is dedicated to this portion. The spaces are flexible and appropriate for a number of uses, including restaurants.

Frontage for 245 West 34th Street is set to range between 33 1/2 and 45 feet, which gives tenants plenty of exposure for their businesses. In addition to any commercial signage, the hotels sign is set to be displayed prominently above the first floor.

The remaining 36,789 square feet of 245 West 34th street is split amongst 180 small but luxurious hotel rooms. Each floor is set to boast large, square windows to bring in natural light and views of the hustle and bustle of New York.

Most of the facade of 245 West 34th Street is expected to be covered in windows, with the first 3 stories being exclusively glass. Above, blue and white facade panels will give off a sleek, modern look.

Internet Providers for 245 W 34th St

Provider Technology Max Download Speed Max Upload Speed
Level 3 Communications Fiber
10 Gb/s
10 Gb/s
Cablevision/Lightpath Fiber
10 Gb/s
10 Gb/s
Verizon New York Fiber
1 Gb/s
25 Mb/s
Time Warner Cable Cable
100 Mb/s
6 Mb/s
MegaPath DSL
50 Mb/s
50 Mb/s

The Neighborhood: Garment District

The typical asking rate per listing is in the $50's per square foot per year. The Garment District submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.

Compared to the rest of the New York City market, the Garment District region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.

Median Rate Median Size
Garment District $59
/sqft/yr
2,500
sqft
Median Rate Median Size
New York City $66
/sqft/yr
3,300
sqft

Median Rate over Time in Garment District