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5 Pennsylvania Plaza

Chelsea

New York, NY 10001

  • 100 - 28,977 sqft
  • inquire for pricing

Building Details

  • Attended Lobby✔︎
  • 24/7 Access✔︎
  • Floors26
  • Height343
  • ArchitectJohn & Edward Larkin
  • Walk Score®98
  • Year Built1916
  • Noise Index0.57

The 5 Penn Plaza Center is conveniently located across from Pennsylvania Station. Clients arriving in New York City on Amtrak, Long Island Railroad or New Jersey Transit find their productivity enhanced by 5 Penn Plaza Center’s desirable location. With only a five minute walk from the train, commuters enjoy easy access to the center. The centers professional staff is available for onsite support, and with fully furnished offices, a board room overlooking Manhattan, and a state of the art videoconferencing studio, this location is ideal for getting business done efficiently and effectively. The lobby features a concierge and a small shop. 5 Penn Plaza is located on Eight Avenue between 33rd & 34th Street directly across the street from Penn Station and Madison Square Garden with access to mass transportation in and around Metro New York including LaGuardia, Kennedy and Newark Airports, approximately 2545 minutes from the center.

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  • Availability

    UnitSizePriceInquire
    19th Floor100 sqftInquire for pricing
    1st Floor3,400 sqftInquire for pricing
    Office Space6,500 sqftInquire for pricing
    Partial 14th Floor8,906 sqftInquire for pricing
    14th Floor8,910 sqftInquire for pricing
    Partial 15th Floor10,533 sqftInquire for pricing
    2nd Floor13,831 sqftInquire for pricing
    6th Floor28,641 sqftInquire for pricing
    6th Floor28,641 sqftInquire for pricing
    21st Floor28,641 sqftInquire for pricing
    4th Floor28,641 sqftInquire for pricing
    12th Floor28,977 sqftInquire for pricing
    20th Floor28,977 sqftInquire for pricing
    21st Floor28,977 sqftInquire for pricing
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    • 0.05 mi🍺Local
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    • 0.08 mi☕️Starbucks
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    • 0.13 mi☕️Best Bagels And Coffee
    • 0.13 mi☕️Tim Hortons
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    • 0.15 mi🥘Pad Thai
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    • 0.17 mi🥘Sergimmo Slumeria
    • 0.17 mi🥘Burgers and Cupcakes
    • 0.17 mi☕️Starbucks
    • 0.18 mi🥘Zoob Zib Aura Thai
    • 0.18 mi☕️Pie Face
    • 0.19 mi🥘Bombay Tandoori
    • 0.19 mi🍺American Whisky
    • 0.19 mi🚇12334th Street - Penn Station
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    • 0.24 mi☕️Grace Cafe
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    • 0.26 mi☕️Dunkin' Donuts
    • 0.27 mi🥘Banana Leaf
    • 0.27 mi☕️Seattle Coffee Roaster
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    • 0.28 mi☕️Pret A Manger
    • 0.28 mi🥘Il Punto Ristorante
    • 0.29 mi🥘Five Guys
    • 0.29 mi🥘Mercato
    • 0.29 mi🍺Carragher's
    • 0.29 mi🥘Pomodoro Italian Restaurant
    • 0.3 mi🥘Snack EOS
    • 0.3 mi☕️404
    • 0.31 mi🥘Friedman's
    • 0.32 mi🍺Beer Authority
    • 0.32 mi🥘Friedman`s
    • 0.32 mi☕️Piccolo Cafe
    • 0.32 mi☕️Cafe R
    • 0.32 mi🥘Hell's Kitchen
    • 0.33 mi☕️Intelligentsia
    • 0.33 mi🍺Holland Bar
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    • 0.41 mi🚇742nd Street - Times Square
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    Neighborhood

    Chelsea

    Chelsea is well-known by locals and tourists alike for its expressive and diverse culture. With more than 200 art galleries, nearly 2,000 options for food and drinks, and an array of both boutiques and big chains for shopping — all in under one square mile — there’s something to satisfy every taste in Chelsea.

    Standout attractions include Chelsea Market, which attracts over 6 million visitors each year and was bought by Google’s parent company Alphabet Inc in early 2018, and the High Line, a 1.45-mile urban oasis. Both destinations have played significant roles in the revitalized growth of Chelsea.

    Chelsea Office Space | Lease Data & Trends

    Chelsea is an ideal location for any business seeking to infuse their products and office spaces with creativity. The established arts scene along with SUNY’s Fashion Institute of Technology attract an innovative and educated crowd with an average age of 25-40. Businesses have their pick of smaller offices in co-working spaces to luxurious, sprawling floors in brick and beam buildings. Based on  2018 leasing data, the average asking rent for Chelsea office space hovers just above $70 per square foot, slightly below the Midtown South average of $78.

    Overall, Chelsea features more than 20 million square feet of office space inventory, two-thirds of which is in Class A Buildings. Class A office space in Chelsea costs around $85 per square foot to lease, compared to $55 per square foot for space in a Class B building. Based on publicly available commercial real estate data from Q1 2018, there is an addition 800,000 square feet of office space currently under construction.

    What Our Brokers Say about Chelsea Office Space

    While Chelsea has a smaller tech presence compared to the neighboring Flatiron District, the notable presence of Google and Twitter — along with corporate offices of YouTube, Venmo, Uber, Siegel + Gale, Justworks, and Food52 — make excellent company for those looking to make the move. One of the most recent companies to move to Chelsea is Netflix, who signed an 11,592 square foot sublease for their first New York office space in the fall of 2017.

    Chelsea is easily accessible by residents of the five boroughs and nearby suburbs, thanks to several nearby public transit hubs, including Penn Station. Once in Chelsea, most everyday needs are capable of being met within a five-minute walk. In addition to the variety of foods Chelsea Market has to offer, our team recommends Sweets by CHLOE, The Donut Pub, Momofuku Noodle Bar, Chelsea Brewing Pub, La Sirena, Rocking Horse Cafe, Sullivan Street Bakery, Salinas, and The Red Cat. For more info on where to eat and drink in the neighborhood, check out our Chelsea Lunch and Coffee Guides.

    Popular office buildings in Chelsea include 210 11th Avenue, 531 West 25th Street, 545 West 25th Street, 370 7th Avenue, and The Tate at 535 West 24th Street.

    Neighborhood History

    Chelsea is one of the few Manhattan districts still named after the original estate, which grew into a hub for manufacturing companies. Arguably the most famous company was Nabisco, which was redeveloped into the Chelsea Market in 1998.

    Industrialization in the 1850s took advantage of access to the Hudson River piers and led to the construction of numerous warehouses, factories, lumberyards, breweries, and tenements. Many of these original buildings have been redeveloped for new businesses and apartments. The Chelsea Historic District was designated in 1971 and last expanded in 1982.

    Today, Chelsea is best known for its place at the center of the art world. The neighborhood boasts more than 200 art galleries of varying sizes, and their visitors are a huge source of revenue for local businesses. The galleries are another of Chelsea’s many unique perks to local employees.

    Chelsea’s residential and commercial real estate landscape continues to evolve, in part due to Google, WeWork, and the Hudson Yards Redevelopment Project. With projected completion in 2024, soon Chelsea will benefit from 16 skyscrapers containing more than 12,700,000 square feet of new office, residential, and retail space. The mix of businesses in Chelsea may begin to shift, as rent prices rise and demand for proximity to both Hudson Yards and the Flatiron District grows.

    Reimagine Your Workspace in Chelsea

    Chelsea has an abundance of inspiring office spaces that showcase endless possibilities for remodeling a workspace. In 2011, a 100,000 square foot warehouse building was purchased by British theater company Punchdrunk to create a five-story performance venue “The McKittrick Hotel,” now home to the immersive, site-specific theatrical production Sleep No More, a staple of Chelsea’s entertainment scene. Slightly less elaborate, Google’s Chelsea office is filled with NYC-themed rooms and provides access to floors with ladders as well as elevators, the startup Outbrain is praised for its central conference room “The Fishbowl,” and YouTube has permanent production sets available to their creators.

    Getting Around the Neighborhood

    Chelsea is listed among the top 20 most walkable areas in NYC. Walkers have easy access to the High Line and Chelsea Piers, although with the influx of tourists many locals caution against riding a bike along the piers. Bikers will still find incredible ease in getting around Chelsea and have access to bike sharing with CitiBike.

    Commuters have no shortage of options to get to work. In addition to commuting through Penn Station, employees can take the A, C, and E trains to Eighth Avenue or F and M trains to Sixth Avenue. Chelsea is accessible by bus routes  M7, M10, M11, M12, M14, and M23. Chelsea houses the main entrance to the 34th Street/Hudson Yards station for the 7 train as well as stops for the 1 and 2 trains.

    Nearby neighborhoods include: Flatiron District, Garment, Meatpacking, Tribeca, and Greenwich Village

     

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