Landlords in Midtown Having Trouble Keeping Up

Landlords in Midtown Having Trouble Keeping Up Midtown Manhattan Losing Some if its Footing Over the past 6-8 years, there has been a clear trend for office tenants to find Midtown South more desirable. According to a Crain’s article from 2014, Midtown has been losing its appeal to other neighborhoods in Manhattan. To a large extent, this has been driven by tech tenants. Since the last bottom which occurred in 2010, rents have increased 62% in Midtown South and only 39% in Midtown. Landlords Hope to Woo Potential Office Tenants with More Amenities A recent article posted in the Commercial Observer talks about how tenants are upping their game by providing more amenities. Midtown has a corporate and stale feel and is having more and more trouble competing with the neighborhoods that cater to the creative class. These neighborhoods will have more intimate restaurants, cafes, bars and coffee shops which are in sharp contrast to the mega delis, fancy restaurants, pubs and banks that you will find dotted allover Midtown. Furthermore, large areas of Midtown such as Times Square, Rockefeller Center, Fifth Avenue and Avenue of the Americas, feel like they completely cater to tourists. Some Landlords have taken notice and have provided amenities in their buildings such as:  a 15,000 SF high-end gym at the Empire State Building. Park Avenue Tower, owned by Blackstone, is adding a 20,000 SF amenity space dedicated for its tenants. 400 Madison Avenue, which was purchased by ASB Real Estate Group, has created a lounge and conference facility for the tenants. 285 Madison is providing tenant lounges Landlords are hoping that these amenities will translate to higher rents that tenants can justify by having higher...

Coworking at The Yard – Lower East Side Location

Coworking at The Yard – Lower East Side Location Coworking Space, Repackaged The Yard is an alternative to WeWork and provides very competitive rates.  The Yard has a unique and cutting edge design which is completely exclusive to itself in the coworking environment. They have individual desks that start at $295 per month and even have large team rooms that can accommodate 10 people. The F and M trains are nearby. There are many incredible food options nearby and the neighborhood, known for its nightlife, has a very relaxed and charming feel during the day. Night Life and bars nearby include, Hotel Chantelle, and DL which is next door. Several features that make this executive suite location unique are: Only coworking location in Lower East Side Cafe in the entrance of the building Indoor Bike Storage Rooftop Deck Offices with panoramic...

Duplex Office with Terrace at 350 Madison – 10,000 RSF

Duplex Office with Terrace at 350 Madison – 10,000 RSF Duplex Office Reawakened The penthouse floors are currently available with a private interconnecting staircase and a private elevator. The staircase is a distinctive architectural feature. The ceiling heights are over 16 feet. The 24th floor is approximately 7,000 rsf and floor above is 2,500. From there, you walk onto the very large terrace that has been prepped with pavers. The floors have great light and very good views. 350 Madison Lobby Facelift 350 Madison has undergone a lobby renovation and is now one of the most dramatic and exciting office building lobbies in New York City. Aby Rosen, principal of RFR, is a purveyor of fantastic art and has adorned the lobby with some of the greatest pieces from his collection, including art work from David...

515 Madison – Full Floor Plug N’ Play Trading Space

515 Madison – Full Floor Plug N’ Play Trading Space If you have your heart set on having a dedicated floor, there are few building in the plaza district that can provide a boutique hedge fund a dedicated floor.  Floors in the tower of the building are 3,845 RSF. The 42nd floor is available and is built with a few offices, conference room and open are with a large trading desk. There is also a high-end pantry. The Landlord is open to long and short term lease.  They unit has fantastic panoramic views on 4 sides....

1140 A of A – Office Space with Terrace

1140 A of A – Office Space with Terrace Office Space with Terrace The 22nd floor of 5,500 rsf with an adjacent 2,000 sf office space terrace is currently available. The office space with terrace overlooks Avenue of the Americas. The views are somewhat blocked by a parapet that wraps around the floors. Currently raw, once built, the floor can accommodate 10-25 people. The Landlord will build the office space per the tenant specs. 1140 Avenue of the Americas is a building that was completely reconditioned in 2006. The building not only had its mechanical systems upgraded, but it also has a new modern glass curtain wall. The building has drawn first class tenants, including many high-end financial service firms such as Field Street Capital Management and Trilogy Global Advisors. Across from 1 Bryant Park, 7 Bryant Park and 1095 Avenue of the Americas, it has played a role in New York City’s Bryant Park Renaissance. Dedicated Floor Since most of the buildings on Avenue of the Americas are quite large, this floor is a unique opportunity to have a dedicated office space with terrace on the Avenue. The building affords the opportunity for tenants that are looking for a prestigious address, close proximity to Grand Central and Port Authority and dedicated floors. Since most of the buildings on Sixth Avenue, have large floor plates, its can become difficult for tenants that are insisting on being sixth Avenue to continue to afford the rents. New Landlord In March of 2016, the building was acquired by American Realty Capital New York City REIT from an affiliate of Blackstone. Major of tenants in the building are financial service firms....


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