1700 Broadway: Office Space for Lease

What is available in the building right now

One floor is on the market here through us. The entire 26th measures 13,266 square feet and asks $79 per square foot per year, which comes to $1,048,014 annually and about $87,335 a month before electricity. At the 175 square feet per person we plan against, which already carries meeting rooms, phone booths and circulation, it seats roughly 76 people; a denser open plan takes about 95, and private offices settle it nearer 59.

• Floor: entire 26th, 13,266 sq ft
• Asking rent: $79 per square foot per year
• Approximate monthly: $87,335
• Seats about: 76 people at 175 sq ft each

The space is described as furnished and in move-in condition, built out about two years ago as a mix of private offices, open area and conference rooms, with views toward Central Park and the Hudson. That account comes from the owner's side rather than ours, and a walk-through settles it. No floor plan is published, so we ask the landlord's agent for the plan and the measurement before a tour.

What $79 a foot means here

The four Midtown floors we hold run $79 to $130 per square foot around a median of $125, and this one sits at the bottom of that range. Against the $75 citywide median across our New York book it prices about 5% high, a fraction of the premium the submarket as a whole carries. You are paying a Midtown address at close to the citywide number here, $46 a foot under the submarket's own median rather than a premium on it.

Total dollars settle more than dollars per foot once you compare real floors. The entire 4th at 1450 Broadway asks $65 on 17,296 square feet, about $93,687 a month, buying 30% more room for roughly 7% more annual rent, lower in its building and without furniture. The partial 21st at 520 Madison Avenue asks $125 on 7,092 square feet, about $73,875 a month, so this floor delivers nearly twice the area for about 18% more a year.

What decides cost is taking rent rather than asking rent. A floor at $79 with nothing behind it can cost more over five years than one at $70 with four months free and a real allowance, and an installation already built and furnished is capital that never shows up in a per-foot number.

The submarket around the building

Transit here is nearly every line, with Grand Central and Penn within reach, and for a company hiring across the boroughs and suburbs at once that reach shows up in the offers it can make.

Midtown is Manhattan's corporate core and holds the deepest supply of large, efficient full floors in the city, so the companies that land here need most of a hundred desks on one level and an address a client recognizes. Taking a whole plate also means your own elevator lobby and no corridor shared with a stranger's business.

Our Midtown book holds four floors, 7,092 to 19,097 square feet, roughly 41 to 109 desks, priced $79 to $130, with the entire 10th at 45 West 45th Street carrying no published rent. Bryant Park, Grand Central and Penn Plaza sit alongside, and a comparable plate sits south at 836 Broadway in Union Square.

How to evaluate this floor properly

A tour should settle four things: what condition the existing installation is genuinely in, how much of it you would keep, what the light and noise are like at the hour you would actually be working, and who else occupies the building. Bring the seating plan you intend to use: 13,266 square feet reads differently to 76 desks with generous rooms than to a firm that wants offices on the glass.

Ask for the rentable versus usable measurement in writing. The 13,266 is a rentable figure, as nearly every quoted New York number is, and the usable area a carpet plan holds will be smaller by the building's loss factor. A full-floor tenancy normally carries a lighter loss factor than a floor split among tenants, which works in your favor here, though only a test fit tells you whether 76 desks sit as you want.

That $79 buys occupancy and nothing else. Electricity is typically billed on top at $2 to $4 per square foot a year, roughly $2,200 to $4,400 a month here, with cleaning, after-hours HVAC, the tax escalation base year and the porter wage formula in the same conversation. Free rent, the improvement allowance, the escalation cap, security, the good guy guarantee and the restoration clause move the real number across a term. On a furnished floor, press whether the furniture conveys with the lease and what condition you must return a fit-out you did not build in.

How Nomad works on this one

We represent tenants only. Because we never list space for landlords, there is no version of this transaction in which we are paid to defend the asking rent, and the $79 on this page is the number we were handed, not one we are selling.

On this floor that means arranging the tour, pulling the plan and the landlord's measurement, running a test fit against your headcount, and carrying the letter of intent and lease to signature. Having delivered 300+ office buildouts across more than two million square feet in New York, we can tell you quickly whether what is installed is worth keeping.