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Midtown Real Estate
About Midtown NYC
The largest business district in New York
(Midtown Manhattan) near Broadway and Times Square, this area offers
ample commercial real estate in the form of private office properties
which provide for companies searching for a professional environment
in which to run their businesses in.
Arguably, there has never been a better time to have an office in Midtown
Manhattan. The market has been in the midst of a heady environment marked
by rising vacancy rates, rapidly rising rental rates, spiking sales
prices, and limited new construction. These Nirvana-like conditions
have resulted in sales transactions for Class-A buildings. This phenomenon
reflects the intense demand for Midtown office buildings (particularly
from financial services and law firms) combined with the prospects for
impressive growth over the next several years. The bidding activity
on any high-quality Midtown building hitting the market remains highly
competitive.
With new future supply, and the difficulty and expense of building
new office buildings in Midtown has kept a lid on new supply, escalating
rents certainly make development economics more feasible, albeit still
very difficult to execute. The City’s push for new development
in the Penn Station sub-market makes it nearly certain that several
million s.f. will ultimately be constructed. Redevelopments of older
Midtown structures.
such as the Verizon building, also represent a source of competitive
supply. That said, it is hard to envision a scenario by which excessive
new construction in Midtown kills the golden goose this time around.
For further information about specific spaces and buildings in the area, call Prime Manhattan Realty at (212) 268-8043. We will find the perfect space for your needs at no cost! We will help to negotiate you an ideal lease agreement that will save you money and time.
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Midtown Area Essentials
Locale Subway
East Side - L, N, Q, W, 4, 5, 6, R Trains to 14 Street
/ Broadway : Union Square Station
West Side - A, C, E, L Trains to 14 Street / 8 Avenue Station
1, 2, 3 Trains to 14 Street / 7 Avenue Station
F, V, L Trains to 14 Street / 6 Avenue Station
24-Hour ATMs
The Chase Manhattan Bank at 248 Eighth Ave. near 22nd St.
The Commerce Bank at 200 West 26th at Seventh Ave.
Citibank at 717 Sixth Ave. at 23rd Street.
Police Precinct
NYPD 10th Precinct at 233 Wset 10th Street (212) 741-4811
Pharmacies
Duane Reade, 144 Bleeker Street
CVS Pharmacy, 307 Avenue of the Americas
Midtown Restaurants
289 BAR, 304 Hudson Street
Lomito, 300 Spring Street
Emerald Pub, 308 Spring Street
Midtown Nightlife
Jet Lounge, 286 Spring Street
Sway Lounge, 305 Spring Street
Noca, 310 Spring Street
Don Hills, 511 Greenwich Street
Midtown Area Scene
The Jazz Gallery, 290 Hudson Street
Langotsky Gamba, 537 Greenwich Street
Bruce Palmer Galleries, 150 Varick Street
