How to Rent an Office in NYC

April 16, 2024 / Written by Corporate Suites Staff

You can rent an office in NYC by searching online for local options or by working through a Realtor. Business owners interested in renting an office in NYC should consider the location and type of office as well as the size and layout of available options to ensure they rent the right office for their needs.

Renting an office is a good alternative to purchasing office space for many business owners in NYC. Finding the right rental, however, can be a challenge. Below are some tips on how to rent an office in NYC that meets the needs of various business types and industries:

Step 1: Researching the Best Locations

The first step in renting an office in New York City is to find the best location for your specific needs and goals. NYC is home to diverse communities, each of which has something to offer business owners seeking to rent office space. When looking at neighborhoods around NYC for office rentals, considerations like pricing, safety and accessibility should be factored into your research.

Some of the most popular locations for office leasing in NYC include:

Midtown Manhattan

Offices for rent in Midtown Manhattan tend to be some of the most expensive; however, Midtown Manhattan is also a hub for commerce and is easily accessible from the other boroughs of New York via public transportation. Offices located in Midtown Manhattan also offer a lot of variety in terms of size, space and layout, and non-traditional solutions like coworking spaces can be found throughout the area.

Hudson Yards

Hudson Yards is a section of NYC on the western face of Midtown Manhattan. The Hudson Yards business community is shared alongside residential and public areas, making it a mixed-use zone that may be a benefit to business owners. Local dining options and attractions can be perfect for team-building and meetings, and the rest of NYC is accessible through public trasportation located in Hudon Yards.

Columbus Circle

Renting an office in Columbus Circle means having access to fast transportation around NYC. Columbus Circle is home to the Columbus Circle subway station, so commuting to and from the area can be convenient for business owners and employees working in a rented office, shared office or coworking space.

Times Square

Times Square is iconic and known across the world. In fact, some people consider Times Square to be the “crossroads of the world” due to its prime location in Manhattan. Times Square is an economic hub, but it’s also expensive and very busy as it is one of NYC’s most popular tourist spots.

Union Square

Union Square is centrally-located in Manhattan, and costs can be higher for rented office space in the area due to the community’s location. Nearby amenities in Union Square make renting an office attractive because of the wide variety of meeting spaces and activities for team-building.

Step 2: Choosing the Right Type of Office Space

Choosing the right type of office space to rent in NYC is another important factor when considering options in the city. Different businesses have different needs and goals, and you’ll also want to think about how you plan to grow in the future when planning the type of office space you need to rent. It would be a good idea to consider options that can scale with your company as it evolves over time.

Below are some popular types of office spaces available in NYC:

Private Offices

Private offices are individual offices that are typically rented in office buildings, but some are found in shared offices. Some office leasing or property management company provide access to furnished private offices, and private office rentals in New York City can be good options for “solopreneurs”, small teams or businesses that have a large remote staff spread throughout the country.

Coworking Space

Coworking spaces in NYC are office rental solutions that offer access to workspaces which are shared by other business professionals, companies or teams. A coworking space typically doesn’t offer much in the way of privacy, but these spaces can be less expensive compared to private offices or office suites.

Office Suites

Office suites include access to a number of offices on one floor or in one area of an office building. This type of office rental arrangement can be beneficial for business owners who have local employees who all need to work together in the same office building.

Flexible Office Space

Flexible office space in NYC typically provides lease terms that are offered on a short-term basis. These types of office rental solutions can be good for startups or growing businesses that are still trying to find their footing to determine their long-term office space rental needs.

Step 3: Determining Your Ideal Office Size and Layout

The size and layout of rented office space in NYC can make a big difference in how well a space accommodates the needs of your business. Below are some considerations to factor into your search for office space rentals in NYC:

Team Size Considerations

You want to find office space that offers enough room for all of your team members to comfortably get work done. Because space can be tight in NYC, you may even consider creating a rotating schedule that allows employees to work from home on some days and in-office on others.

Floor Plans and Layout Options

Floor plans and layouts vary greatly when it comes to renting an office in NYC. When comparing options, think about the different teams or departments in your company and how they need to interact with one another on a daily basis.

Exploring Different Rental Options

You’re encouraged to explore different rental options when looking for office space in New York City. It may be a good idea to start off with a flexible office rental until you can determine what solution works best for your business’ needs.

Frequently Asked Questions

How much is it to rent an office in NYC

The cost to rent an office in NYC varies based on location, office size, included amenities and other factors. Some areas of New York City, you may be looking at around $15/SQFT, but in others, you can expect to pay over $100/SQFT.

Can you rent an office for a day in NYC

You can rent an office for a day in NYC using several different options. Shared offices and coworking spaces typically offer daily or even hourly office space rentals, but some office buildings may rent out private offices by the day as well.

How much does it cost to rent office space in Brooklyn

The cost to rent office space in Brooklyn varies based on location as Brooklyn is a diverse part of New York City. In some areas of Brooklyn, office space can cost as little as $15/SQFT, but in others, costs can be higher than $100/SQFT.

Can I use an apartment as an office in NYC

Yes, you can use your apartment as your office in NYC; however, according to the NYC Department of Buildings, your home office cannot exceed 25% of your living space.

Can you rent short term in NYC

Short-term office rentals are available all around New York City. The terms of a short-term office rental can vary based on the property and the location.

Can I run a business out of my NYC apartment

You can run a business out of your NYC apartment, but you cannot use more than one quarter of your living space or 500 square feet for your home office. According to the NYC Planning Commission, a home-based business is referred to as a home occupation, and this type of business cannot impact the character of an area zoned for residential use.

How much does a Class A office space cost in NYC

Class A office space is considered premium office space in NYC. Costs for this type of office rental can vary, but most Class A office space in NYC averages around $95/SQFT.

How much should I budget for office space

According to the Houston Chronicle, the average business spends between 2-20% of its revenue on office rent. For most businesses in NYC, planning to use between 5% and 15% of your revenue for office rent costs is sufficient.

How much is office space in Times Square

Office space in Times Square is divided into Class A and Class B tiers, and Class A is the most expensive. Renting an office in a Class A office space can mean spending around $90/SQFT or more.

What is the average cost of office space in the US

The cost to rent office space in the United States fluctuates based on demand, but in 2024, the average is around just under $40/SQFT.

What is a rent demand in New York City

A rent demand in NYC is an official written notice from a landlord to a tenant that informs the tenant of past-due rent and potential consequences if the matter is not rectified within a specific time period.

Looking for an office in the city? Corporate Suites offers furnished office spaces, virtual offices & conference rooms in several prestigious locations across New York City.