Central Park South office space covers three blocks exactly where its name suggests: just south of New York City’s Central Park. The views in Central Park South are fantastic; gaze out the office window to enjoy Central Park’s foliage or admire the Central Park West skyline. Central Park South offers wonderful dining, entertainment, culture, and, of course, office space leasing opportunities. The neighborhood is conveniently located near everything local businesses could need—all the corporate headquarters of Midtown Manhattan, the art, monuments of Central Park and Columbus Circle, the world-class shopping on Fifth Avenue, and beautiful venues like Carnegie Hall.
What our brokers say about Central Park South
Specifically, Central Park stretches down 59th Street from Fifth Avenue to Eighth Avenue. Today, Central Park South is considered the most pricey street in New York City, with a median sale price of almost $10 million, according to Business Insider. Central Park South houses part of Billionaire’s Row, which includes eight luxury skyscrapers that stand on the south end of Central Park.
“Billionaire’s Row . . . has become a symbol of the city’s increasingly stupendous riches,” Lauren Paley writes for Streeteasy. “The apartment purchases on Billionaire’s Row have shattered records for Manhattan, an impressive feat in an already expensive city.” In fact, just a few months ago, hedge-fund manager Ken Griffin bought a $238 million penthouse at 220 Central Park South, breaking the nation’s record for most expensive home ever sold.
The eight buildings that are part of Billionaire’s Row are as follows: Steinway Tower (111 W. 57th Street), One 57 (157 W. 57th Street), Central Park Tower (225 West 57th Street), 220 Central Park South, 53 West 53rd Street, 432 Park Avenue, 520 Park Avenue, and 252 East 57th Street. Though it’s not part of Billionaire’s Row, 200 Central Park South is another well-known buildings in the neighborhood and appears in a lot of photographs of NYC; most people would recognize its curved facade. It is a 35-story residential tower located across from one of the key entrances to Central Park: Merchant’s Gate. In 2016, it earned a designation as the #2 co-op building in Midtown Manhattan. It was built in 1963 and designed by Wechsler & Schimenti.
Just north of Central Park South lies Midtown Manhattan’s Central Park, an urban oasis sandwiched between Upper East Side and Upper West Side. Central Park serves as the template for numerous parks all over the world and remains one of the city’s most iconic locations, right along with Times Square and the Empire State Building. Established in 1858, the park spans 843 acres and boasts 42 million visitors annually.
Central Park contributes greatly to New York City’s economy because of its significant draw for tourists, numerous major events, private investments, and close by businesses. A 2015 report indicated that visitors in 2014 helped generate $203.8 million in city-wide economic output. Leasing office space in and around Central Park holds many benefits. For one, the south end is located in Midtown Manhattan, the world’s largest central business district. Two, its insane number of daily visitors ensures local businesses will have access to an enormous talent pool and a group of potential clients. Three, employees working in buildings near Central Park will always have quick access to walking trails and greenery when they need a break from the office. Four, Central Park has something for everyone, including countless restaurants, museums, nature sanctuaries, historic landmarks, theaters, athletic areas, and even a zoo.
Central Park South commercial space for lease | By the numbers
|Office Space for Lease||Price per square foot|
Lease data & trends
Central Park South is part of the Midtown Manhattan office market, where office space varies considerably by size and style; therefore, the region offers plenty of appealing options for businesses in any industry and for companies that plan to grow. Overall, Midtown Manhattan currently houses slightly more than 288 million square feet of office space, which is more than half of New York City’s total office space inventory. Developers were working on adding just more than 12 million more square feet of office space to Midtown as of Q3 of 2019.
In Midtown, office space leases for an average of just over $90.25 per square foot for all classes and $97.25 per square foot for Class A. Office spaces near Central Park tend to lease for less than that, but it depends on which building.
Midtown Manhattan houses the headquarters for many prominent companies, such as The New York Times Company, Calvin Klein, Foot Locker, Barnes & Noble, The Sharper Image, Estee Lauder Companies, Time Warner, Polo Ralph Lauren, Viacom, and Six Flags.
Getting around: Transportation
Many workplaces in Central Park South lie within walking distance, and Central Park offers several paved and dirt paths for bicyclists. The closest subway stations to Central Park South are the 59th Street—Columbus Circle station (served by the 1, 2, A, B, C, and D) and the 57th Street station (served by the N, Q, R, and W). Bus lines that pass through or near Central Park South include the M104, M5, Q32, and SIM3.
To drive into the Central Park area, take 66th Street, 79th Street, 86th Street, or 97th Street. Central Park Tours recommends LaGuardia Airport, Newark Liberty International Airport, or Midtown Skyport for those who need to fly nationally or internationally.
Top commercial real estate listings in Central Park South
If you’re interested in leasing Central Park South office space but are not sure where to start, contact one of SquareFoot’s experienced brokers, who would be happy to assist you in finding office space to meet and exceed your business needs. Or, just check out one of the these three highly recommended properties in the neighborhood: 1330 Avenue of the Americas, 752 5th Avenue, and 1700 Broadway.
– 1330 Avenue of the Americas: Technically located in the Plaza District, the Pearson Building houses Samsung, AT&T, Abeona Therapeutics, QuadReal Property Group, RXR 1330 Owner LLC, fuboTV, and Gallup. 1330 Avenue of the Americas stretches 40 stories high and provides 525,825 square feet. The Class A office building underwent a $30 million renovation in 2007 and features a newly designed plaza, a sophisticated lobby, 24/7 building access, a parking garage equipped with valet attendants, and on-site property management. Quite a few units are available for rent in the Pearson Building. Businesses looking for a smaller space might rent one of the building’s 18 units that range from 150 to 4,000 square feet in size. Businesses requiring more space have plenty of options here, too, with 26 units available ranging from 4,427 to 16,400 square feet in size. Contact SquareFoot for rental pricing information or for a tour of the property. With a Walk Score of 99 and close proximity to a variety of transportation options, it’s easy to get to 1330 Avenue of the Americas. Take the 1, B, D, E, F, M, N, Q, R, or W to get to the Pearson Building. For lunch in the area, try Fogo de chao, Benoit, or Bistro Milano.
– 725 5th Avenue: Trump Tower is located at 725 5th Avenue in Central Park South. Owned and leased by President Donald Trump, this office building rises 58 floors high and is characterized by a glass exterior, Louis Vuitton on the ground floor, high ceilings, and large windows. When Trump Tower was first constructed in 1983, it was the tallest building in Manhattan and soon became an easily recognized New York City landmark. Besides housing the penthouse condominium for Trump, the building also includes space for tenants S. S. Steiner, Marc Fisher Footwear, International School of NY, and Gucci. Currently, eight units ranging from 4,280 to 14,888 square feet in size are available to rent at 725 5th Avenue. Contact SquareFoot for more information about Trump Tower, including leasing prices and touring opportunities. Take trains 4, 5, 6, E, F, M, N, Q, R, or W to access Trump Tower. For lunch, try meeting colleagues at La Bonne Soupe, Harry Cipriani, Mangia, or Mozzarella & Vino, all conveniently located nearby.
– 1700 Broadway: 1700 Broadway stands 42 floors high in the nearby Columbus Circle neighborhood. Built in 1968, 1700 Broadway offers 625,000 square feet of rentable Class A office space. It features a marble lobby, tower views in four directions, 24/hour parking garage, and state-of-the-art security. Current tenants of the property include CBS Broadcasting Inc., DC Comics, Gensler, and Cardiovascular Research Foundation. Currently, eight units ranging from 2,001 to 13,533 square feet are open and available to new renters. To find out more about pricing or to schedule a tour, contact SquareFoot. The 7th Avenue Subway Station (trains B, D, and E); the 50th Street Subway Station (trains 1 and 2); the 57th Street Subway Station (trains N, Q, and R); and the 49th Street Subway Station (trains N and R) make accessing 1700 Broadway quick and convenient. For lunch in the area, try out Gallaghers Steakhouse, Carnegie Deli, or Park Cafe.
The Plaza Hotel first opened in 1907 and later became a New York City Landmark. For a long time, Central Park South was a Hotel Row, but today it’s more residential. Today, some of NYC’s richest residents live in the neighborhood.
As the New York City population grew, especially between 1821 and 1855, open spaces became farther and farther between. People looking for a break from the fast-paced city life were hard-pressed to find a park or somewhere to relax unless it was in Lower Manhattan. By the 1840s, thought leaders had begun to recognize the need for a sizable park in Midtown Manhattan. After haggling over the location for the park for several years before deciding on a site in 1855. Though people expected the park to cost around $1.7 million to build, in the end, it cost closer to $7.39 million. The park’s construction was, of course, a group effort. The swampy landscape presented quite a challenge, and developers had to begin by removing around 5 million cubic feet of soil and rocks before they began adding to the space. It wasn’t until the late 1850s that builders were able to begin adding fences and leveling uneven terrain. They faced some funding issues as well. Finally, Central Park was officially completed in 1876.
In the mid-19th century when Central Park was first opened, more and more high-ticket residential spaces popped up in the area. At that time, most of New York City’s richest were purchasing properties to the east and west of the Park, while the area south of the Park became known for its apartments and hotels. At first, it was called West 59th Street but eventually earned the name Central Park South.