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Trying to find the ideal executive office suite or commercial office space in Manhattan can be an exhausting and time consuming process. The volatile economic times in which we live has made for a tougher business climate and has made it necessary for all companies (or individuals like tax advisors, lawyers, financial consultants, etc) to find the ideal commercial office spaces with the most value. Officespaceheaven.com offers a free service and has a proven track record to help any sized business be successful with their search for commercial office space. One of the five boroughs of New York City and one of the most densely populated areas in the United States is Manhattan. Located at the mouth of the Hudson River, the area is one of the original counties in the state of New York and consists of Manhattan Island and several smaller adjacent islands. The population of Manhattan is roughly 1,634,795 and features one of the most urbanized and dense surface areas. Some areas we service in the Manhattan area are Gramercy, Greenwich Village, Harlem, Inwood, Lower East Side, Midtown, Murray Hill, Soho, We also provide office space in Boston, Providence and Philadelphia.
Office Space Prices
Warehouse space, office space and much more is relatively expensive in the area. Despite the high density there are still a lot of commercial and residential real estate developments. The prices for office space in the area start at around $2,000 a month for 297 square feet in prime areas and in some rare cases $2 a square foot is possible. These rental rates vary on building size, location to public transportation and floorplan. REnting an executive suites is priced at about $1000 a month per person to be in heart of NYC> The area is highly competitive and hard to find good deals at times. Manhattan office space consists of executive suites, large temporary offices and fully furnished suites. The office vacancy rate in the greater Manhattan area has climbed upwards of 13.1% and has been the highest since 1996. These high vacancy rates mean that it is a ‘renter’s market’ so tenants should negotiate prices and lease agreements prior to their move in. Because of this ‘renter’s market’, there has never been a better time to lease Manhattan office space. See our office space articles for more information.
Manhattan, New York is home to the most valuable real estate in the world. It has garnered a reputation for being one of the most expensive areas in the whole United States. The economy of the area draws roughly 2.3 million workers from all parts of the greater New York Metropolitan area. Almost two thirds of all jobs are located in the Manhattan area. The daytime population of the area has been known to rise upwards to 2.87 million people, most of which are commuters. The biggest sector of industry and provider of jobs in the area is the Finance Industry with over 280,000 workers earning more than half of all the wages in the area. The securities industry accounts for 50% of the financial services in the area. The city has the most corporate headquarters in the area and is the third largest central business district. The area is home to the New York Stock Exchange, The American Stock Exchange, The New York Board of Trade, the New York Mercantile Exchange, Nasdaq and much more. The workforce relies heavily on white-collar professions, which overshadows the manufacturing, construction and many other employment options. Even though there is a great wealth of vocation options of all types, the white-collar world seems to cast a large shadow that is hard to come out from under. It is no surprise, that although there are a lot of career paths, the unemployment rate has been recorded at 10.5% as of late. While it is starting to drop a little more, the area was hit hard in the wake of the United States recession. With such a high unemployment rate, the well educated workforce of the Manhattan area is making it an opportune time to lease Manhattan office space and expand or locate your business in the area. The major airport in the New York City area is JFK International Airport, although LaGuardia Airport also carries a lot of the travel weight. These two major airports see millions upon millions of travelers annually and see international traffic from people of all walks of life. Both airports have recently gotten upgrades to help people keep entertained while waiting for their flights.
The crime rate in Manhattan has been lower than other parts of New York City but still has relatively high crime rates compared to other larger cities and it’s due in large part to the great diversity and density in the area. Please see our webpage showing listings and pics of all types of Manhattan office space. We provide a free service and can find any type of office space in the Manhattan area. Inquire with us if you are trying to lease Manhattan office space.