Greenwich Village, which locals also call The Village or West Village, has earned a reputation as NYC’s artists’ haven and the Bohemian capital. It lies north of Houston Street, south of 14th Street, west of the East River, and east of the Avenue of the Americas. Greenwich Village is known as one of the most diverse areas of Manhattan. The historic Washington Square Park lies at Greenwich Village’s center, and many Off-Broadway and Off-Off Broadways are scattered throughout. Well-known companies such as J. Crew, Forbes, and Outbrain rent Greenwich office space.
Know Your Villages
Not sure what the difference is between Greenwich Village, West Village, and East Village? Here’s a quick breakdown:
Sometimes people refer to Greenwich Village and West Village as the same area, bordered by 14th Street to the North, Houston Street to the South, Broadway to the East, and the Hudson River to the West. However, other people identify the West Village as the western part of Greenwich Village. The East Village shares the same North-South borders, with the East River and around Third Avenue serving as the East to West borders. The area between Broadway and Bowery is considered NoHo.
What our brokers say about Greenwich Village
Businesses and individuals scouting Greenwich Village office space can expect to find a generally expensive market that’s situated in a centrally located neighborhood that includes a little bit of everything. With businesses in a variety of industries operating in the neighborhood; an interesting mix of walkups and brownstones; the iconic Washington Square Park; a bevy of impressive restaurants; and several well-known universities, Greenwich Village has something for everyone.
The largest industries in the region include securities, commodities, funds, and trusts; colleges and universities; and banking, according to Data USA, which combines Battery Park City, Greenwich Village, and Soho Puma into one region for statistical purposes. The highest-paying industries in the region are pharmaceutical & medicine manufacturing; securities, commodities, funds, and trusts; and internet publishing & broadcasting.
Renting Greenwich office space can make it much easier to attract interns or entry-level hires thanks to the proximity to NYU and The New School.
The Greenwich Village Chelsea Chamber of Commerce provides business and civic leadership to businesses in Greenwich Village, West Village, East Village, Union Square, Flatiron, Chelsea, NoHo, and SoHo. Through the chamber, locals businesses have a voice in local and governmental affairs, opportunities for education and business development, space to network, and options for promotion. “Our diversity is one of our greatest assets, providing our membership with unique opportunities and a strong voice from which to address business issues,” the website says. Become a member or learn more.
Greenwich Village provides a fun, artistic environment for businesses to thrive. If you’re looking for a great spot for a business lunch, check out Amelie, Mamoun’s Falafel, or Saigon Shack. If you fancy a non-traditional business meeting, invite your client for a stroll or meal from a food truck in one of NYC’s best-known parks, the 9.75-acre Washington Square Park, which is a prominent landmark, one of the best places in the city to people watch, and a popular meeting place for working professionals, students, and tourists. Other parks in The Village are Jackson Square, Abingdon Square and St. Vincent’s Triangle Park.
Greenwich office space for lease | By the numbers
|Office Space for Lease||Price per square foot|
Greenwich office space | Lease data & trends
Office space in Greenwich Village rents for an average of just under $118 per square foot, which is well above the NYC rental average of just over $85 per square foot. Class A space in Greenwich Village goes for an average of just over $145.50/sqft. This pricing is comparable to neighborhoods such as NoHo and Hudson Square. Greenwich Village is a popular choice for renting office space, but has stiff competition—the vacancy rate of 4.5 percent is below the Manhattan average of around 7 percent.
The average asking rent for Class A office space in Greenwich Village is the highest in the city, in part because of the consolidation of Class A buildings in NoHo. Overall, the neighborhood offers just over 6 million square feet of office space, with just under a half million under construction as of Q3 of 2019. Along with Chelsea, Gramercy Park, Hudson Square, and SoHo, Greenwich Village is part of the larger office market of Midtown South.
Midtown South’s overall vacancy rate rests at 5 percent as of Quarter 3 of 2019; it increased by 10 basis points over the quarter. Overall, Midtown South is expected to attract primarily tech and boutique financial firms. In Q3, these industries took up 86.6 percent of the leasing activity in Midtown South. Though office space rental prices remain relatively high, properties are expected to stay in high demand. Several new construction projects are emerging in the area as alternatives to well-known properties in Midtown. For example, WarnerMedia leased 18,700 square feet of space on the second floor of 512 West 22nd Street. Also, Templum Inc. and RTW Investments leased 28,000 square feet of collective rental commitments at 40 Tenth Avenue in the Meatpacking District.
Because Greenwich office space is often quite pricey, businesses may want to consider subleasing as a cost-cutting option. Office subleases are arranged directly with a current office tenant and may lack the assurances that come with a direct lease through a landlord. However, for businesses that need additional flexibility, lower costs, and privacy unavailable at a coworking office, subleasing could be a good strategy.
Getting around: Transportation in Greenwich Village
Greenwich Village, only about 1.5 square miles in size, is located in Midtown South neighboring Gramercy, Chelsea, and SoHo. Foot traffic is quite common. Though it’s a walker’s paradise, it also boasts excellent public transportation options.
Thanks to the Union Square and West 4th Street stations, commuters have plenty of subway and bus options. These include the 1, 2, 3, 4, 5, 6, A, C, E, B, D, F, M, R, W, and L trains; the M55, M7, M11, M14, and M20 buses; and the PATH Train at Christopher Street, Ninth Street and 14th Street.
Greenwich Village locals benefit from its central location. Get to Columbus Circle in 24 minutes (by train), to Grand Central in 21 minutes, to Union Square in 9 minutes, or to Wall Street in 19 minutes.
The closest airports to Greenwich Village are LaGuardia Airport (12 miles away) and Newark Liberty International Airport (13 miles away).
Top Greenwich office space Listings
Ready to rent office space in one of the most diverse areas of Manhattan? Contact one of our experienced brokers to learn more about Greenwich Village office space. Or consider renting space in one of the following three SquareFoot-recommended buildings:
- 200 Varick Street: Built in 1926, 200 Varick Street is a 12-story office building in Greenwich Village that tends to attract tenants in digital strategy, design, advertising, and other creative fields. Current tenants include Citibank, Entertainment One, Omnicom Group, and Bulthaup. 200 Varick Street boasts 24/7 access, an attended lobby, and a Walk Score of 100. Contact one of our experienced brokers to learn more about the 12 units available for rent at 200 Varick Street. Available spaces range from 1,140 to 7,995 square feet in size. Reach this office building via trains 1, A, B, C, D, E, F, or M. The PATH train is also available in the area. Grab lunch at The Grey Dog, Charley Bird, The Market Table, or Grand Sichuan just steps from the building.
- 430 West 14th Street: Greenwich Village’s 430 West 14th Street office building was constructed in 1900 but was renovated in 2015. Eleven units are vacant; rent space ranging from 796 to 2,708 square feet in size. To learn more about pricing or to schedule a tour of the property, contact us. The building has a Walk Score of 97 and can be reached via trains 1, 2, 3, A, C, E, or L. Nearby restaurants include Spice Market, Lobster Place, Old Homestead, and Dos Caminos.
- 186 West 4th Street, Ground Floor: 186 West 4th Street is a retail building in Greenwich Village with space available on the ground floor. Currently, two units that are 1,000 square feet and 1,800 square feet in size are available for rent. For a tour or pricing details, contact us. With a Walk Score and Transit Score of 100, one of the main selling points of 186 West 4th Street is its great accessibility. Take trains 1, A, B, C, D, E, F, or M to easily reach this building. The PATH train is also available. Visitors and employees at the building will also appreciate the vast array of close by restaurants, such as Jekyll and Hyde Club, Rockmeisha Izakaya, Hummus Place, and Panca.
Greenwich Village history
Greenwich Village used to be a rural settlement, so its street layout is uncharacteristically organic for NYC, and the streets typically have names instead of numbers. This feature makes the area aesthetically pleasing but sometimes more challenging to navigate. Preserving The Village’s historic architecture and artistic havens has become an important focus for the community, and a nonprofit organization called the Greenwich Village Society for Historic Preservation, established in 1980. The society mostly fights to designate buildings that should be preserved and suggests boundaries for landmark districts.
Greenwich Village is known for being the center for the American Bohemian movement that began in the early 20th century. It attracts progressive residents who champion new ideas in politics, art, and culture. The 10th Street Studio building, dedicated entirely to the needs of artists, set a precedent for the creation of similar structures to perpetuate Greenwich Village’s thriving artistic community. Cherry Lane Theater, New York’s oldest off-broadway theater, opened in 1925 as a place where aspiring playwrights could demonstrate their abilities.
A variety of famous people have lived in or passed through this charming, historic neighborhood. For example, Walt Whitman, Mark Twain, and Jackson Pollock used to meet up at Hotel Albert, which is another iconic location in the neighborhood. Bob Dylan lived there and grew his music career in the 60s. Albert Einstein, Arthur Conan Doyle, and Charlie Chaplain used to pose for sculptor Jo Davidson in his studio located in the Village.
Widespread concern regarding historic integrity and preservation in Greenwich Village spurred the establishment of a historic district that currently spans more than 50 blocks. At the moment, the historic district stretches from 14th Street on the north to 4th Street on the south and as far east as University Place—Washington Square East. Even today, developers are required to follow strict rules to ensure the buildings maintain their character. The Greenwich Village Society for Historic Preservation spearheads many of these efforts.