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747 Third Avenue

Plaza District

New York, NY 10017

  • 100 - 8,824 sqft
  • inquire for pricing

Building Details

  • Attended Lobby✔︎
  • Turnstile✔︎
  • 24/7 Access✔︎
  • Floors38
  • Walk Score®100
  • Year Built1972
  • Noise Index0.47

With a striking newly-renovated lobby, 24/7 security staff, proximity key-card access, and a building plaza with a green wall, you can be sure spaces at 747 3rd Avenue will not be on the market for long. The building was constructed in 1972 and stands 37 stories high.
747 3rd Avenue is located in Turtle Bay, a neighborhood known for beautiful architecture and views of the East River. The area is not defined by any tourist attractions, but that is part of the appeal. 747 3rd Avenue is just blocks away from Greek seafood at Arva Esiatorio, a warm treat at Ess-a-Bagel, and the Smith & Wollensky steakhouse – Warren Buffetts favorite in New York. Third Ave and Lexington have stations that are quite close, making transportation easy. After work, the nightlife in Turtle Bay leaves little to be desired.

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  • Availability

    UnitSizePriceInquire
    1st Floor100 sqftInquire for pricing
    Executive Suite100 sqftInquire for pricing
    25th Floor - 25b Suite1,775 sqftInquire for pricing
    Partial 10th Floor2,815 sqftInquire for pricing
    26th Floor2,853 sqftInquire for pricing
    34th Floor - 34a Suite2,975 sqftInquire for pricing
    Partial 11th Floor - Suite 11032,976 sqftInquire for pricing
    11th Floor - 11b Suite2,976 sqftInquire for pricing
    11th Floor2,980 sqftInquire for pricing
    21st Floor3,049 sqftInquire for pricing
    Partial 34th Floor - Suite 34033,105 sqftInquire for pricing
    34th Floor3,110 sqftInquire for pricing
    Partial 11th Floor - Suite 11023,300 sqftInquire for pricing
    11th Floor - 11a Suite3,300 sqftInquire for pricing
    11th Floor3,300 sqftInquire for pricing
    28th Floor3,563 sqftInquire for pricing
    Office Space3,835 sqftInquire for pricing
    30th Floor3,850 sqftInquire for pricing
    Partial 30th Floor3,850 sqftInquire for pricing
    35th Floor3,895 sqftInquire for pricing
    Partial 35th Floor - Suite 35023,895 sqftInquire for pricing
    35th Floor3,900 sqftInquire for pricing
    Partial 30th Floor5,850 sqftInquire for pricing
    30th Floor5,850 sqftInquire for pricing
    Partial 17th Floor6,640 sqftInquire for pricing
    11th Floor8,820 sqftInquire for pricing
    Partial 11th Floor8,824 sqftInquire for pricing
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    Neighborhood

    Plaza District

    The Plaza District is anchored by the southeast corner of Central Park. Most agree that the district is defined between the East River and Seventh Avenues, with 65th and 42nd streets as its North-South borders. The Plaza District derives its name from the landmark 19th-century Plaza Hotel and the Grand Army Plaza. The district is home to many famous buildings and landmarks, including Radio City Music Hall, Rockefeller Plaza, the Chrysler Building, and MoMa.

    Midtown Manhattan is the largest central business district in the world, and the Plaza District boasts some of the most premier commercial real estate in the city. Its tall buildings primarily provide office space for holding companies, investment groups, media groups, consulting firms, accounting firms, and hedge funds. Two-thirds of hedge funds located in NYC have office space in the Plaza District.

    Notable Plaza District tenants include Deloitte, Accenture, Mizuho Americas, Bloomberg Media, Colgate-Palmolive, JP Morgan, Pfizer, Cisco Systems, Fox News, and NBC Studios.

    Plaza District Office Space | Lease Data & Trends

    The Plaza District sees a range of asking rents and holds a Class A average of $94.19 per square foot, compared to the Midtown Class A average of  $83.71. Many upper floors — especially those with views of Central Park — can lease for up to $200 per square foot, and many of the most expensive Plaza District buildings (such as the SoLow and General Motors Buildings) have an average asking rent of $144 per square foot.

    The cost of office space is largely determined by location, building class, lease terms and length, and renovation costs. Not sure about the differences between Class A and Class B office spaces? What about gross lease, triple net leases, and tenant improvement allowance? A licensed tenant broker will leverage these factors to negotiate your lease, but if you want to learn more for yourself, check out our Leasopedia.

    What Our Brokers Say

    Inventory stands at nearly 102,000,000 square feet, with vacancy around 10%. As some tenants such as Blackwater choose to leave the Plaza District for Hudson Yards, vacancy is expected to go up. The Plaza District is ideal for small to mid-size financial services. Between 2015 and 2017, 65% of signed leases for less than 20,000 square feet in Midtown were concentrated in the Plaza District.

    Co-working spaces are also finding their way into the Plaza District. WeWork has four Plaza District locations and signed a lease at the beginning of 2018 for a 400,000 square foot office space at 750 Lexington Ave. NYC Office Suites has 75,000 square feet covering three floors in the LOVE Building, and Grand Central Tech resides at 335 Madison Ave. Plaza District is also an ideal location for any business that interacts with the United Nations ecosystem of organizations, which are mostly based in Midtown East and Murray Hill.

    Neighborhood History

    Construction above 42nd Street soared in the 1920s after the completion of Grand Central Station. Thirty new skyscrapers went up in 1927 alone, and Midtown’s reputation as the epicenter of business in New York City only continued to solidify throughout the 20th century.

    Unlike the up-and-coming neighborhoods that value repurposing old warehouses and factories into workspaces, the majority of older buildings in the Plaza District were designed with businesses in mind. There has been little to no large-scale construction in recent years, although landlords are starting to issue significant renovations to attract the younger workforce.

    Getting Around the Plaza District

    The Plaza District provides a variety of transportation options for easy commuting around the city,with Grand Central Station as the primary hub in the south-east corner of the district. Subway lines B, D, F, M, 1, N, Q, R as well as bus lines M1, M2, M3, M4, M5, M7, and M50 service the area. Suburban commuters take the Metro North from Westchester, Putnam, and Dutchess Counties, and much of Connecticut. Taxis are readily available to drive you to your next destination.

    The Plaza District has heavy foot traffic. From the north, employees can enjoy walking or biking to work through Central Park. There are also bike lanes on Second Avenue (southbound) and First Avenue (northbound).

    Nearby neighborhoods include: Columbus Circle, Times Square, Park Avenue, and Fifth-Madison.

     

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