Greenwich Village, which locals also call The Village or West Village has been called NYC’s artists’ haven and the Bohemian capital. It’s known as one of the most diverse areas of Manhattan. The historic Washington Square Park lies at its center, and many Off-Broadway and Off-Off Broadways are scattered throughout. If choose to rent West Village office space, J. Crew, Forbes, and Outbrain will be among your new neighbors.
Know Your Villages
Not sure what the difference between Greenwich Village, West Village, and East Village? Here’s a quick breakdown:
Greenwich Village and West Village typically refer to the same area, bordered by 14th Street to the North, Houston St to the South, Broadway to the East, and the Hudson River to the West. The East Village shares the same North-South borders, with the East River and around Third Avenue serving as the East-West borders. The area between Broadway and Bowery is considered NoHo.
Greenwich Village Office Space | Lease and Data Trends
Office space in Midtown Manhattan’s Greenwich Village rents for an average of $77 per square foot, and Class A space goes for $115/sqft. This pricing is comparable to neighborhoods such as NoHo and Hudson Square, and much cheaper than popular areas such as Plaza District and TriBeCa. Greenwich Village is a popular choice for renting office space, but has stiff competition — the vacancy rate of 3% is well below the Manhattan average of around 9%.
The average asking rent for Class A office space in Greenwich Village is the highest in the city, largely driven by two factors. One is the consolidation of Class A buildings in NoHo, and the other is that Hudson Yards is not yet classified as its own submarket.
What Our Brokers Say About Greenwich Village Office Space
Greenwich Village, only about 1.5 square miles in size, is located in Midtown South neighboring Gramercy, Chelsea, and SoHo. Thanks to the Union Square and West 4th Street stations, commuters have plenty of transportation 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 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 and 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.
Renting Greenwich Village office space can make it much easier to attract interns or entry-level hires thanks to the proximity to NYU and The New School.
Get to Know the Neighborhood
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.