NYC Grand Central Office Rental Rate Guide for 2020 by Cogent Realty

The Owner of NYC Office Space Leasing Agency, Cogent Realty Advisors, has released their 2020 Guide to Rental Costs near Grand Central Station. To view the report, visit https://www.rentnyoffice.com/

The Grand Central area is a central location in Midtown NYC. It’s a unique location in one of the most prolific real estate markets in the world.

Grand Central Station is the center point of Manhattan where downtown and uptown converge. It’s also the busiest transportation hub in NYC. Metro-North trains bring commuters from Connecticut on the New Haven Line and New York suburbs on the Hudson and Harlem lines into Grand Central Terminal every day from early in the morning until late at night.

Many subway lines stop at Grand Central as well. These include the 4, 5, 6, 7 and S subway lines. MTA Bus Lines are serviced near the terminal along Lexington and Madison Avenues plus the Cross Town Buses on 42nd Street..

It’s one of the largest train stations in the world.

This area has made NYC famous for it’s amazing skyscrapers. Many movies have been filmed in Grand Central including Men In Black (Will Smith), Pelham 123 (Denzel Washington), The Out of Towners (Jack Lemon) and Unfaithful (Richard Gere) to name a few.

It’s no surprise how many buildings are in the Grand Central Sub Market Business District. According to the recent report by Cogent Realty Advisors, there are 104 office buildings in the Neighborhood totaling almost 50 Million Square Feet. That’s enough space to provide 250,000 people with a 200 Square foot office.

Office space rental costs range from $40.00 - $150 per square foot. To put that into perspective, a 2,000 square foot office at $150.00 Per Square Foot, enough for about 10 people, would cost $300,000 per year or $3 Million over 10 years without including rental increases.

In the recent office rental pricing report, Mitch Waldman of Cogent Realty showcases 6 main buildings with direct access from Grand Central.

These 6 Buildings Include;

1.     420 Lexington Avenue

2.     One Grand Central Place

3.     122 East 42nd Street

4.     370 Lexington Avenue

5.     10 Grand Central

6.     One Vanderbilt Avenue

Cogent Realty Advisors posts market updates and information on their website about prime buildings in NYC. On their website, you can find rental rates at the most iconic buildings in Manhattan.

For more details about the Grand Central Office space cost and pricing report, click here https://www.rentnyoffice.com/office-space-price-guide-grand-central-station-2020/

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Created on Feb 27th 2020 08:01. Viewed 290 times.

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