1239 Broadway: Office Space for Lease

The floor available at 1239 Broadway today

One space is on the market in the building through us, and it is the whole plate rather than a piece of it.

• Entire 12th Floor: 12,500 square feet, $62 per square foot per year, about $64,583 a month, roughly 71 desks

Annual rent at the asking number is $775,000. The floor carries polished concrete, exposed ceilings, brand-new linear lighting and updated restrooms, and it was built out for a team of 75 to 80, denser than the 175 square feet per person we plan against. Density is where the desk count moves most: a tight open plan takes about 89 people on this plate, and a layout with a real perimeter of private offices lands closer to 56.

The floor plan, four photographs and a Matterport walkthrough sit on the listing page, so a headcount plan can be tested against the real plate before anyone books a tour.

Reading the $62 asking rent

Across the four NoMad floors on our book the range runs $57 to $90 with a $62 median, so this floor sits exactly at the submarket median with only the Empire State Building above it. Against the $75 citywide median it is thirteen dollars cheaper, roughly 17 percent below the market we track.

Nearby comparisons give the number its shape. 1235 Broadway holds an entire 4th floor of 9,500 square feet asking the same $62, so on this block the money buys 3,000 more feet at no premium per foot. 22 West 27th Street asks $57 for an entire 7th floor, five dollars cheaper on less than half the footprint, the ordinary pattern of smaller side-street floors clearing lower. Outside NoMad the spread widens quickly: an entire 26th floor at 1700 Broadway in Midtown, 13,266 square feet and comparable in scale, asks $79, and on 12,500 feet that gap is another $212,500 a year.

Our read is that the floor prices at market for NoMad and slightly under the city, with the local premium attached to scale and finished condition rather than to the address. Asking rent opens a conversation rather than closing one, and full floors take under their sticker often enough to treat this number as a position.

The submarket around the building

Transit at the door reads N/R/W, 6, F/M at 23rd and 28th. NoMad's stock is prewar, mostly boutique full floors rather than towers, and the neighborhood filled in as Flatiron ran out of room, which is why Series A through C companies keep landing on these blocks. Madison Square Park does the work an amenity floor does in a tower, and the restaurant density around it is a real recruiting argument.

Our book holds two other NoMad floors, both smaller: 1235 Broadway at 9,500 square feet and 22 West 27th Street at 6,000. Counting the Empire State Building's partial 43rd at 5,621 square feet, sizes across the four NoMad floors run 5,621 to 12,500 square feet and desk counts 32 to 71, so a company of seventy has exactly one option in the neighborhood today. Teams needing to look wider go to Flatiron, Murray Hill or Chelsea next, all showable the same afternoon.

What a tour and a lease should settle

Walk the floor with the plan in hand and a headcount you are willing to defend. The questions worth answering on site are structural rather than cosmetic: where the core and the columns sit, how much of the 12,500 is continuous usable run, how the HVAC is zoned and what after-hours service costs, and how the freight elevator and loading window behave, since that schedule sets a buildout calendar more firmly than any drawing does. Acoustics deserve a test of their own, because exposed ceilings and polished concrete are hard surfaces.

The 12,500 square feet is a rentable figure, which is what you pay on rather than what you occupy. Core, shafts, columns and the loss factor convention sit between the two, and loss factor is a market custom rather than a measurement, so the only reliable translation is an architect's test fit that counts desks, not feet.

The $64,583 is a base, and the items around it decide the real monthly number:

• Electric: direct-metered, sub-metered or included in rent, typically $2 to $4 per square foot per year
• Cleaning: whose contract, which nights, and whether the pantry is covered
• Escalations: tax and operating increases over a base year, and how hard the caps are
• After-hours HVAC: the hourly rate and the minimum block
• Security: cash or letter of credit, the burn-down schedule, and the good guy guarantee's scope

Term does more to the economics than any single line item. A full floor this size usually trades on five to ten years, and the longer the term, the more free rent and improvement allowance a landlord will fund. Restoration at expiry, renewal rights and the sublease language cost money quietly, long after rent has stopped being the interesting number.

How we work on this floor

We are tenant-side only. Nothing on our book is a landlord agency, here or anywhere else, so what we tell you about this floor is not written for two audiences, and the rent is published because keeping it behind a phone call wastes a week of yours.

We can arrange the tour directly, usually within a few days, and we walk it with you rather than handing over a key card. If the floor survives that visit, the lease negotiation and the buildout sit with the same team, so design can begin while terms are still being argued. Across New York we have delivered 300+ office buildouts over 2M+ square feet.