A Slow Summer - Or A Time Of Opportunity?

08-16-2016 | by Looking For Space

This could be a good time to sign a new lease for shared office space in Manhattan. The market has been a little slow this summer - it almost feels a little lazy - and our "Hosts" are offering some below market rentals in an effort to wake the market up. One very good example is a shared legal office space we have listed at 600 Third Avenue on the 15th Floor. This space has a huge corner partner office available for a one-year sublease, at $3000 per month. The office is massive and has great views and the entire space has just been renovated. (Click To View The Listing) A longer term lease is available - but the $3,000 per month reduced rental won't track into the second year, when the base rent will be higher. This is a short term offering at a below market rental for a corner partner office in Midtown Manhattan - with a long term extension possible though at closer to "Market" rent.

Another good example is a "package" of 3 offices and 3 workstations available for sublease in a law firm at 355 Lexington Avenue on the 10th Floor. This is a Durst building - with an excellent attended lobby and building management with an unparalleled reputation.

The "Host" firm offers 2 Partner Offices and 1 Associate Office - all generously sized rooms - for a combined asking rental of $7800 per month (with full time professional receptionist, conference rooms, kitchen, etc. all available for the subtenant's use). The package price is currently discounted to $7000 per month for 3 offices taken together. Workstations are available at $500 per month each. (Click To View The Listing)

There are only 3 offices remaining at the legal office suite at 110 East 59th Street,, 22nd and 23rd floors, immediately off Park Avenue. This Jack Resnick & Sons building has a beautiful, highly secure lobby and the building is managed to a very high standard. The duplex space features 2 fully staffed reception areas (yes they answer your phones), 4 conference rooms, 3 high speed copiers and more. There is a large (12' X 17'), 3 window partner office with excellent exposure to the East that is being offered for sublease at $3,500 per month. The room is large enough for a couch and several lateral filing cabinets. (Click To View The Listing) There are 2 other smaller offices available.

Next is an interesting offering at 18 East 48th Street on the 10th Floor- at Fifth Avenue in Midtown as well. This is a sublease from an established law firm offering one office, unfurnished, in move-in condition for a solo lawyer. Due to a recent price reduction this office can be rented for just $2,500 per month - immediately proximate to Grand Central. The office is 9. X 12 and has an operable window. The entire space was recently renovated and makes a very nice impression.
(Click To View The Listing)

A law firm on the 42nd floor of 1700 Broadway at 53rd-54th Streets has 4 offices remaining with a built in workstation and unparalleled views looking West. There is a large partner office with a wall of windows plus a standard partner office and 2 small administrative offices. All of the offices have windows with fabulous views and light.

If you're looking for space Downtown, we have just completed our 9-office assignment at 61 Broadway, so that one is no longer available. However there is something you should consider at 48 Wall Street. This space was renovated several years ago and has very good signage opportunities off the Elevator lobby on the 26th floor. This is a great opportunity to move right in to an established attorney's space and take advantage of professionally managed amenities in a Downtown legal office space. (Click To View The Listing)

These are several examples highlighted this week in our listings of shared legal office space in Manhattan. If your firm has Extra Offices and you're thinking about subleasing them to attorneys or other professionals who are looking for space online, please Contact Us (212) 986-9100. We can help you add your listing (and if you order a featured listing in Manhattan, we'll come to your office to take photographs and interview you for the listing material. If you're not tech oriented, we can even add your listing to the system for you. Please give us a call at 212-986-9100, or Add Your Listing Online Yourself You can choose from a menu of "do it yourself" listings as well as a "broker assisted" listing where we do everything for you with our professional brokerage staff.

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