brandsquarefoot

731 Lexington Avenue

Bloomberg Tower

New York, NY 10022

  • inquire for pricing

Building Details

  • Owner/Leasing ManagerVornado Realty Trust
  • Floors54
  • ArchitectCesar Pelli & Associates
  • Walk Score®82
  • Year Built2005
  • Noise Index0.53
  • Notable TenantsBloomberg L.P.

Completed in 2005, The Bloomberg Tower is located on 731 Lexington Avenue, New York, NY 10022 by the corner of 58th Street and Lexington Avenue. The structure is quite sizable, features over 1,300,000 square feet in office space for lease, and stands tall at 54 floors. As a relatively new building, tenants benefit from having true class A office space and great technical support. The structure sits in the heart of Midtown and subsequently benefits from some of New York’s best amenities. In addition to hundreds of restaurants in close proximity, 731 Lexington Avenue benefits from being close to to green, orange, and blue MTA subway lines. The Bloomberg Tower also stands in the heart of a central business district, making it ideal for organizations needing closeness to partner firms or clients. The structure serves many different purposes, with office, residential, and retail space for lease. Bloomberg Tower occupies a full city block on Lexington Avenue and features two towers built above a steel office and retail section which are separated by a seven story atrium. The residential portion of the complex is referred to as One Beacon Court and has a separate entrance dedicated for its tenants. The building was originally intended to be fully residential, but Bloomberg negotiated a deal with developer Vornado Realty Trust to consolidate its operations near the base of the tower.

  • Not what you're looking for?

    Go through our quick office space finder quiz to find the best spaces for your company.

  • Sample Units

    UnitSizePriceInquire
    Small2,500 sqftInquire for pricing
    Medium5,000 sqftInquire for pricing
    Large10,000 sqftInquire for pricing
    Whole Floor20,000 sqftInquire for pricing
    • 4.86 mi🌲Beattie Triangle
    • 5.06 mi🌲Kosciuszko Street Garden
    • 5.16 mi🚇JKosciuszko Street
    • 5.19 mi🌲Lafayette Playground
    • 5.23 mi🌲Jesse Owens Playground
    • 5.42 mi🌲Goodwin Gardens
    • 5.55 mi💪Blink Fitness
    • 5.69 mi🥘L'Antagoniste
    • 5.73 mi🥘Natural Blend

    Neighborhood

    Bedford-Stuyvesant

    It’s a good time to look for Bedford-Stuyvesant office space. Bedford-Stuyvesant, sometimes affectionately referred to as “Bed-Stuy”—is a large, laid-back neighborhood in the north-central part of Brooklyn in New York City. Notably, the neighborhood’s nickname isn’t brokerese; rather it is derived from the former Village of Bedford and Stuyvesant Heights neighborhoods. Though it’s a large neighborhood, it has more of a small-town feel. It is full of brownstone homes, historic landmarks, and tree-lined streets. The neighborhood also boasts the nation’s largest collection of Victorian architecture.

    Bedford-Stuyvesant is becoming more and more popular with millennials. The neighborhood is an ideal choice for people who want to live in the city and easily access Manhattan but still enjoy the more relaxed vibe that comes from living in a suburb. “Bed-Stuy has arrived as a successful urban, family-friendly neighborhood, business center, restaurant hub, and entertainment district with colorful nightlife,” said Joyce Turner, chairperson board of directors of Bed-Stuy Gateway Business Improvement District.

    What our brokers say about Bedford-Stuyvesant

    In the last decade and a half, Bedford-Stuyvesant’s economy has improved notably faster than the city’s economy as a whole. Since 2000, the number of businesses in Bedford-Stuyvesant has increased by 73 percent, which is much higher than the overall Brooklyn rate of 48 percent. Currently, 1,900 businesses operate in Bedford-Stuyvesant, and 27,000 people visit the neighborhood each day. Most businesses here are small. Common businesses include real estate offices, grocery stores, restaurants, nonprofit organizations, and personal services establishments. The neighborhood houses more than 764,000 square feet of retail space, 1,318 residential units, and 16 restaurants. The neighborhood’s population grew 34 percent from 1980 to 2015, which is faster than the growth of the population across NYC. Currently, Bed-Stuy’s population rests at just over 182,000.

    Those looking into Bedford-Stuyvesant office space and looking to start or move a business to the neighborhood may find helpful resources through the Bed-Stuy Gateway Business Improvement District (BID). According to the website, BID represents “a growing eclectic community of entrepreneurs, nonprofit and arts organizations, families, artists, advocates who are proud to call Bedford-Stuyvesant home.” Commercial activity in the neighborhood centers on Fulton Street and its connecting avenues, such as Bedford, Lewis, Nostrand, Tompkins, and Throop.

    Bedford-Stuyvesant houses an unusually high number of churches and tends to attract young professionals and families. In addition, it’s a haven for artists, actors, and musicians. It is also known for having a diverse community with African, African-American, and Caribbean influence. Compass notes that Bedford-Stuyvesant is “a quintessential Brooklyn neighborhood with almost pastoral charm.”

    Bedford-Stuyvesant is divided into several sub-neighborhoods. The Bedford portion of Bedford-Stuyvesant lies on the western side of the neighborhood where the old village of Bedford used to be. On the other hand, Stuyvesant Heights, which also contains the Stuyvesant Heights Historic District, is on the southern side of the neighborhood. Historically, the Stuyvesant side of Bedford-Stuyvesant is more upscale than its Bedford counterpart. The eastern end of Bedford-Stuyvesant is called Ocean Hill, and the southeast portion is called Weeksville.

    Bedford-Stuyvesant’s actual boundaries are sometimes still debated. Flushing Avenue borders Bedford-Stuyvesant to the north; Atlantic Avenue borders it to the south; Broadway borders it to the east; and Classon Avenue borders it to the west. Nearby neighborhoods include Williamsburg, Clinton Hill, Bushwick, Crown Heights, and Brownsville. Bedford-Stuyvesant is only a 30-minute drive from Midtown and a 15-minute drive from Williamsburg.

    Bedford-Stuyvesant office space is located in Brooklyn, is the most populous New York City borough. It would be the nation’s third most populous city—if it were a city. Brooklyn has a steadily growing population and features the highest density of young adults in the city, making the borough especially appealing to firms looking to hire young, talented employees. Brooklyn also offers plenty of work/life balance amenities, including a more bike-friendly and car-friendly landscape, and lower housing costs compared to Manhattan. This is certainly true of Bedford-Stuyvesant, which boasts unusually affordable living spaces.

    Though historically a residential borough offering blue-collar work, the past two decades have transformed Brooklyn into a thriving hub for entrepreneurs, technology startups, advertising and design agencies, inpatient care, manufacturers, and local artists. Overall, Brooklyn is seeing an impressive increase in innovation jobs and is becoming “the innovation capital of New York,” according to Crain’s NY Business. Lower Manhattan’s Silicon Alley has stretched in Brooklyn, which now houses a large number of startups such as Kickstarter, Etsy, Work & Co., Vice Media, Makerbot, mindbodygreen, and Livestream. From 2009 to 2018, the number of businesses in Brooklyn increased by 32 percent, which is nearly double the rate of business growth across the city. The Brooklyn Chamber of Commerce offers free resources and amenities for small businesses.

    Whether you’re looking for someone neat to get lunch during the workday, coffee in the morning, or somewhere to stroll around during a break, Bedford-Stuyvesant has something for everyone. Get out of the office for lunch and try out Trad Room, Saraghina, or Hart’s. Grab coffee at Daily Press or Stonefruit Espresso + Kitchen. To take a break from the office go for walk at Herbert Von King Park, one of Brooklyn’s first parks.

    Bedford-Stuyvesant office space for lease | By the numbers

    Office Space for LeasePrice per square foot
    Class A$59.25
    Class B$37

    Lease data & trends

    Bedford-Stuyvesant office space is known as part of the Brooklyn/Long Island (LIC) office market. Brooklyn rents are still significantly cheaper than averages in Manhattan, and a fast-growing inventory of repurposed buildings and new constructions can accommodate businesses of all industries and sizes. Brooklyn is now seen as “the roomier, cheaper, less chaotic alternative [to Manhattan], with a more stable population, and a reputation for creativity that draws artists developers, and investors from across the world,” Tim Donnelly writes for Inc.

    Currently, the Brooklyn/LIC region houses more than 46 million square feet of office space, with 7 million more under construction as of Q3 of 2019. The vacancy rate is 10 percent. Overall, Brooklyn has about twice as much Class B office space as Class A office space. The average asking rent for all classes in Brooklyn is just over $52.25 per square foot. Class A office space tends to lease for an average of just over $59.25 per square foot, while Class B space goes for an average of $37 per square foot.

    Vacancy and asking rents in Brooklyn have remained relatively stable from Q2 to Q3 2019. Recently, a trend has emerged: regional offices have been popping up in the outer bureaus. Along those lines, a New York Times office will soon operate in Long Island City. In Brooklyn, TuneCore leased 4,000 square feet more (it originally had 10,000 square feet) at 45 Main Street. Brooklyn is expected to continue offering an attractive alternative to some of the more pricey Manhattan office leasing options. Both the growing talent pool and the aesthetically pleasing steel-and-glass and brick-and-beam style buildings contribute to Brooklyn’s increasing appeal.

    Getting around: Transportation in Bedford-Stuyvesant

    Several subway and bus lines serve Bedford-Stuyvesant. MTA Regional Bus lines B7, B15, B43, B44, SBS, B46, B46 SBS, B47, B48, and B60 mostly deliver passengers north to south through the neighborhood. The B25, B26, B38, B52, and B54 run mostly east to west through Bed-Stuy. And the Q24, B46, and B47 run northwest to southeast through the neighborhood.

    The New York City Subway IND Fulton Street Line (A and C trains), the IND Crosstown Line (G train), and the BMT Jamaica Line (J, M, and Z trains) provide subway transportation in the neighborhood. In addition, 102 bikeshare bikes are available at five stations. Today, more than half a million New Yorkers commute by bike. Bedford-Stuyvesant has a Walk Score of 94.

    Brooklyn is more driver-friendly than Manhattan, but we wouldn’t recommend getting into a car unless you need to. According to the INRIX Global Traffic Scorecard, New York is the third most congested city in the world, and drivers spend on average 91 hours per year stuck in traffic! “When [city planners] laid out the grid for Brooklyn, in the area that would become Bed-Stuy, they named the streets after governors and revolutionary war heroes,” said Brownstones Detective founder Brian Hartig.

    From Bedford-Stuyvesant, travelers can get to Columbus Circle in 40 minutes by train (or 50 minutes by car); to Grand Central in 33 minutes by train (or 32 minutes by car); to Union Square in 23 minutes by train (or 33 minutes by car); or to Wall Street in 35 minutes by train (or 25 minutes by car).

    Bedford-Stuyvesant City history

    Until the 17th century, the Lenape Native Americans lived in the area that is now Brooklyn. One of the earliest iterations of the bureau’s present-day name came from the Dutch, who arrived in the 17th century, took over the land, and named it “Breuckelen.”

    The neighborhood now known as Bedford-Stuyvesant originally belonged to three Dutch settlers for the latter half of the 17th century. While Bedford became a prominent settlement, Stuyvesant Heights remained simple farmland for a long time. In the year 1800, Bedford became one of the Town of Brooklyn’s seven districts. After Brooklyn became a city, Bedford instead became the seventh and ninth wards of Brooklyn.

    Though Bed-Stuy is still considered one of the most sprawling neighborhoods in New York City, it used to be even larger than it is today. In the late 1960s, Bed-Stuy covered a lot of Clinton Hill, some of Crown Heights, and some of Ocean Hill.

    Around the late 1990s, Bed-Stuy began the arduous process of gentrification. “Many would-be home buyers from other parts of Brooklyn and New York City, priced out of other brownstone Brooklyn neighborhoods, have found incredible values in turn-of-the-20th-century brownstones in Bedford-Stuyvesant,” according to TripSavvy. Property renovations and additions in the early 2000s provided even more space for people eager to take up residence in the increasingly popular Bedford-Stuyvesant neighborhood. Though many people believed that the influx of new residents would help decrease crime and create more customers for local businesses, not everyone was thrilled about the population increase. Some local business owners were afraid that new establishments would put them out of business. Others feared the neighborhood would lose its unique ethnic character.

    Gentrification in Bed-Stuy continued to march on even in the 2010s, despite the recession that was negatively impacting many parts of the nation during that time. Today, Bedford-Stuyvesant retains much of its historic character, in part thanks to the Stuyvesant Heights Historic District in the neighborhood. The historic district covers 577 residential buildings that were constructed roughly 1870-1900. It also includes 17 individual blocks. NY Like a Native explains Bed-Stuy’s character like this: “Bed-Stuy displays upper-class 19th-century roots, mid-20th-century African-American history, a rugged recent past, and very recent gentrification that has brought new businesses and has partly reshaped community identity.”

    Bed-Stuy Office Space

    Similar Office Spaces

    Nearby

    SquareFoot does not represent the building. Pricing is estimated based on market averages. Information is deemed reliable but not guaranteed.