Manhattan’s population growth has been at a steady pace of 6% this decade, most of the growth coming from immigrants moving into the city for new business growth and job opportunities – all of these factors make it expensive to rent Manhattan office space.
Manhattan office space vacancy rates which were at an all time low before the economic crisis have gone up slightly and office space rentals have gone down from their peak of $51 per square foot. These prices fluctuate depending on location, amenities, lease terms (monthly, 6 or 12 month lease terms, etc.) This trend will not last long as analysts see an upward trend in the leading commercial real estate markets in the US.
The city of New York is said to have the lowest of crime rates when compared to other cities (like Chicago, Boston, Miami, etc.) and Manhattan has fashioned this approach. A lot of the early crimes were said to be from the influx of immigrants but these situations have since been under control throughout the city. We service the entire local area including: Chelsea, East Village, Financial District, Garment District, Grand Central Station, Midtown and Midtown East, Penn Station, Tribeca, and of course Wall Street.
For more information, please visit our website: http://www.officespaceheaven.com/