Midtown Manhattan remains one of the most dynamic and sought-after areas for office space in New York City. Whether you’re an established corporation or a growing startup, the diversity of available office space in Midtown Manhattan—ranging in size, style, and price—offers plenty of attractive options. With proximity to iconic landmarks, major transportation hubs, and a rich variety of retail and dining experiences, leasing office space in Midtown NYC positions businesses for success.
Why Rent an Office in Midtown Manhattan?
Leasing office space in Midtown Manhattan, New York offers a strategic advantage. The region is central to NYC’s economic activity, home to major industries including finance, media, technology, and consulting. It boasts unrivaled access to transportation, with Grand Central Station, Penn Station, and multiple subway lines ensuring seamless connectivity.
In addition to its strategic location, Midtown Manhattan offers a diverse mix of neighborhoods—each with unique amenities and atmospheres. Whether you’re looking for the prestige of Park Avenue, the energy of Times Square, or the creative vibe of the Flatiron District, Midtown has an office leasing solution to fit every business need.
Leasing Office Space in Midtown Manhattan | Real Estate Lease Data & Trends
Midtown Manhattan currently houses approximately 285 million square feet of office space, accounting for more than half of NYC’s total office inventory. As of early 2024, the overall average asking rent for office space in Midtown Manhattan is around $85 per square foot.
| Office Space for Rent | Price per square foot |
| Class A | Average asking rent stands at approximately $95 per square foot. |
| Class B | Average asking rent is about $67 per square foot. |
Grand Central Station / Murray Hill
The Grand Central / Murray Hill area has seen a resurgence in leasing activity. Bloomberg LP’s recent expansion at 919 Third Avenue highlights the corridor’s continued appeal. Average asking rents here are around $55.43 per square foot.
Times Square / Rockefeller Center
Times Square and Rockefeller Center remain highly desirable for office leasing. Recent trends show average asking rents at approximately $63.31 per square foot, with strong demand from firms in media and entertainment.
Flatiron District
This neighborhood, alongside Union Square, continues to thrive as a hub for tech and creative industries. While specific figures vary, average rents hover around the $78 per square foot mark, with businesses attracted by the district’s open-plan layouts and vibrant atmosphere.
Hudson Yards
Hudson Yards has become one of Manhattan’s premier office destinations. The completion of 50 Hudson Yards, featuring tenants like BlackRock and Meta, reflects strong market confidence. Class A spaces here command some of the city’s highest rents, around $120 per square foot.
Penn Station / Garment District
Apple’s lease expansion at Penn 11 has reinforced the area’s appeal, particularly for companies seeking accessible, high-traffic locations. Average asking rents in this district are approximately $44.34 per square foot, offering cost-effective solutions for growing firms.
Park Avenue
Park Avenue continues to attract high-profile tenants, with recent leases pushing average asking rents above $100 per square foot. The corridor remains one of Midtown Manhattan’s most prestigious addresses.
Top Commercial Offices for Lease in Manhattan
For businesses seeking prime office locations in Midtown Manhattan, here are two notable properties currently offering leasing opportunities:
1 Grand Central Place
Located at 60 East 42nd Street, across from Grand Central Terminal, this high-rise office building is home to prominent tenants like Allianz, GLG, and Pine Brook Partners. The property features a state-of-the-art conference center, in-house dining options, and the popular Blue Bottle Coffee. Current available units range from 3,000 to nearly 40,000 square feet.
15 West 36th Street
This 16-story, 82,000-square-foot building is located in the Garment District, a hub for fashion and creative industries. 15 West 36th Street features high ceilings, an attended lobby, and two passenger elevators. Current listings include office units ranging from 2,340 to 5,000 square feet.
Takeaways
Leasing office space in Midtown Manhattan provides businesses with a strategic and prestigious location, access to world-class amenities, and flexible leasing options to suit varying business needs. Whether you’re looking for premium Class A office space or cost-effective Class B rentals, Midtown NYC offers diverse choices across its iconic neighborhoods.
Ready to Find Your Next Midtown Manhattan Office Space?
We can help you find available Midtown office space for lease, curated to match your specific business requirements. Contact us today via our contact form or email us for more information and a personalized list of available spaces.
