RealStarGlobal.com

Penn Plaza / Garment Submarket — New York City

Penn Plaza / Garment submarket of New York City: 13 tracked properties, 3,819,400 SF of inventory and 1,270,600 SF available.

13Listings
1,270,600 SFAvailable space
3,819,400 SFTotal inventory
$72.88/SFAvg asking rent
55,600 SFMedian suite
Concord CourtNew York, NY · Hospitality · Class A6,000 SF availableRate on request
Sterling PlaceNew York, NY · Office · Class A524,600 SF available$89.67 – $109.17/SF/yr FS
Enterprise CourtNew York, NY · Office · Class B55,600 SF available$81.75 – $99.52/SF/yr FS
22 Park AveNew York, NY · Office · Class B252,800 SF available$71.04 – $86.48/SF/yr FS
51 E 45th StNew York, NY · Retail · Class A200 SF available$44.85 – $54.60/SF/yr NNN
Brazos CrossingNew York, NY · Retail · Class B30,600 SF$37.70 – $45.89/SF/yr NNN
1177 BroadwayNew York, NY · Retail · Class A173,100 SF$44.64 – $54.35/SF/yr NNN
1008 W 57th StNew York, NY · Office · Class B36,000 SF available$75.89 – $92.38/SF/yr FS
Harbor CenterNew York, NY · Office · Class B16,500 SF available$73.82 – $89.87/SF/yr FS
Granite CrossingNew York, NY · Office · Class A300,500 SF available$92.19 – $112.23/SF/yr FS
Legacy TowerNew York, NY · Office · Class C22,400 SF available$71.56 – $87.12/SF/yr FS

13 commercial properties are tracked in the Penn Plaza / Garment submarket, representing 3,819,400 SF of rentable building area, of which 1,270,600 SF is currently marketed as available.

Asking rents average $72.88 per square foot per year, the median marketed suite is 55,600 SF, and listings have been on market a median of 301 days.

The stock splits 5 Class A, 7 Class B, 1 Class C, with construction dates from 1908 to 2011 (median 1962).

Other New York City submarkets

ChelseaColumbus CircleFinancial DistrictFlatiron / Union SquareGramercyGrand CentralHudson YardsMurray HillPlaza DistrictTimes SquareTribeca / SoHoUpper East SideUpper West Side

Search this submarket

Hospitality for leaseOffice for leaseRetail for lease

Frequently asked questions

What is the average asking rent for commercial space in Penn Plaza / Garment, NY?

Across the 13 commercial listings published in Penn Plaza / Garment, NY, asking rents average $72.88 per square foot per year, quoted on a FS basis.

How much commercial space is available in Penn Plaza / Garment, NY?

1,270,600 SF is currently marketed across 10 buildings, out of 3,819,400 SF of total inventory.

What is the commercial vacancy rate in the New York City market?

The New York City commercial market is running 21.1% vacancy with year-over-year asking rent growth of 4.9%.

Which submarkets have the most commercial space in Penn Plaza / Garment, NY?

Penn Plaza / Garment (13 properties).

What cap rates are commercial assets trading at in Penn Plaza / Garment, NY?

Listed commercial assets in Penn Plaza / Garment, NY show an average asking cap rate of 4.91%. Closed sale comparables are available in RealStar's Sales module.

Which brokerages are most active in Penn Plaza / Garment, NY?

Northgate Commercial (3 listings), Cornerstone Brokerage (2 listings), Concord Realty Services (1 listing), Frontier Commercial (1 listing), Landmark Commercial (1 listing). See the full Penn Plaza / Garment, NY broker directory.

How do I list a commercial property in Penn Plaza / Garment, NY?

Publish it from RealStar in a few minutes. Basic listings are free; Silver, Gold, Platinum and Diamond packages lift the listing above free inventory and add media, syndication and lead reporting. Compare advertising packages.