New York Office Space
Iconic New York City is a global power city, home to the headquarters of the United Nations, and a world leader in technology, finance, entertainment and fashion. It's one of the three global command centres for the world economy, along with London and Tokyo. The economy is dominated by a number of sectors: banking and finance, media and advertising, technology, tourism, real estate, law, accountancy and retail. New York is home to 45 Fortune 500 companies, as well as a huge number of foreign firms. New York is one of the most densely populated cities in the US, and contains two of the world’s stock markets, along with a huge number of tertiary institutions.
The location
New York City is situated at the mouth of the Hudson River on the East Coast of the United States. It's divided into five boroughs: Brooklyn, Queens, Manhattan, the Bronx, and Staten Island. The city is served by an extensive network of buses, trains, subways, ferries and taxis, as over half of its population commutes to work by public transport. There are also three international airports, making New York one of the world's busiest air transportation corridors.
Looking for an office in New York City?
A New York office is ideal for businesses wanting to showcase the fact that they have a presence in such an important global financial hub. Some postcodes are more prestigious than others, however. The most sought-after business addresses include Broadway, Madison Avenue, Park Avenue, Wall Street and Avenue of the Americas.
Serviced offices (known as executive offices in the US) are ideal as they are a cost-effective option that makes it possible for businesses to rent space in the city that might not otherwise be able to afford it – price per square foot is significant. The market is constantly growing due to increased demand.
There are many different area options for companies looking to move into New York, depending on the nature of the business. Midtown South is ideal for technology and advertising firms, while Lower Manhattan is a good option for finance or law firms.
Regardless of the area, all are in prime position for the subway system which is the main means of transportation in the city, including Penn, Times Square, Wall Street and Grand Central Stations.
Office sizes in New York City
While executive suites are a popular option, coworking is spreading in the city and many executive suite providers are opening second locations that are fully coworking, thus keeping the executive suites separate from their coworking spaces.
Instant offer a great variety of flexible office solutions across a range of sizes, and are able to accommodate most enquiries, from one person through to 100 or more, depending on the specifics. Serviced office providers can be flexible with the layout of the workspace, and are happy to discuss partitioning to fit a particular requirement.
Why choose New York City?
The benefits of establishing a business in New York are numerous — access to a booming market, the prestige of operating in one of the world’s leading cities, a thriving community, extensive public transport, a diverse business sector, and top-rated lifestyle amenities and attractions. As one of the world’s leading financial centres, businesses are exposed to a huge network of potential clients, partners and leading multinationals. And, with economic specialisations in industries ranging from advertising to accountancy, companies from all sectors are suited to New York. A global hub, residents and employees are centred in one of the most exciting cities in the world.
A closer look at New York City
These are the most popular areas in which to rent office space:
Lower Manhattan
Lower Manhattan is one of the largest business districts in the country, home to the New York Stock Exchange and Wall Street. As a result, there are a number of financial and recruiting firms in the area, including Goldman Sachs, AOL, Verizon Communications, and Nielsen. The new One World Trade Centre can also be found in Lower Manhattan. The area is well served by public transport, offers a very prestigious postcode, and is surrounded by great restaurants, shops, cultural attractions and landmarks.
Midtown South
Midtown South, also known as Silicon Alley, covers the districts of Flatiron, Chelsea, SOHO, Tribeca, Gramercy and Union Square. It's populated by tech companies, social media companies and digital marketing firms. Twitter, Foursquare, Apple, Google and Yelp all have their New York offices in the area. The green spaces of Union Square and Madison Park are easily accessible, and there are numerous public transport links, hotels, restaurants, boutiques and attractions in Midtown South. Other industries represented in the area include banking, education, publishing and communications.
Midtown
The large Midtown region is the biggest central business district in the US, and is a growing financial centre, second only to Lower Manhattan. It is also a hub for commerce, entertainment and media. Iconic landmarks include the Empire State Building, UN headquarters, Times Square and the Chrysler Building. Big name tenants in the area include JP Morgan Chase, Morgan Stanley, Bloomberg, Deloitte, DC Comics, NBC Universal, Pfizer, Time Warner and CBS Corporation. Midtown is generally defined as the area between 34th and 59th Street, and contains the majority of the city’s skyscrapers.
Want to find out more?
If you’re looking to move into the area, or simply require more information, contact Instant Offices' specialist local consultants.