45 Broadway: Office Space for Lease

The one floor available right now

A single space sits on our book at 45 Broadway, the smallest and cheapest of the four floors we represent in the Financial District.

• Partial 12th Floor, 2,624 square feet, asking $60 per square foot per year. That is $157,440 a year and roughly $13,120 a month before electricity, and it seats about 15 people at the 175 square feet per person we plan to, which leaves room for meetings and circulation. Run dense and open it takes 19; broken further into offices it suits closer to 12.

Our file describes a modern prebuilt suite: three private offices, a conference room, a pantry and a large open work area under exposed ceilings. The rooms a fifteen person company needs are already standing, so a team that can live with the layout occupies two to four weeks after signing; reconfiguring it means a 10-16 week calendar of design, permits and construction. We hold the floor plan and our photographs, and at 15 desks the rent lands near $875 a seat per month.

What $60 means against the market

The four floors we hold in FiDi run $60 to $115 per square foot per year with a median of $71.50, a few dollars under the $75 citywide median on our book. This floor asks the bottom of that range, roughly 16% under the neighborhood median and a full 20% light against the city.

Four floors make a thin sample, and 4 World Trade Center at $115 pulls the median up, so the fair comparison is 32 Old Slip at $64 and 17 State Street at $79, against which $60 sits at the cheap end of a tight downtown band.

The check we trust most sits outside the neighborhood: 29 West 17th Street holds 2,500 square feet at $60 in Union Square, the same rent in a submarket that prices above downtown. Our read is that $60 is at market for FiDi and a little better than market for what gets delivered, since a finished prebuilt usually carries a premium over raw space.

The submarket around the building

The trains make the practical case: 4/5, 2/3, R/W, 1 and J/Z at Fulton and Wall Street, PATH and the Oculus at the World Trade Center, and nearly every line within a ten-minute walk. Teams hiring across the boroughs and into New Jersey rarely lose a candidate over the commute.

Companies that choose the Financial District trade proximity to Midtown for rent and take harbor views the same budget will not buy uptown. Manhattan's original downtown became a real neighborhood after 2000, when residential conversion filled in around the towers, and rents still run below Midtown South for equivalent floors.

Our downtown book runs to four floors: this one at 2,624 square feet, 4 World Trade Center at 5,023, 17 State Street at 6,606 and 32 Old Slip at 6,997. Nothing else we hold in FiDi is under 5,000 square feet, so a smaller team takes this floor or looks toward Tribeca, Battery Park City and Seaport.

How to read the floor, and what sets the real cost

A tour earns its hour by settling what a listing sheet cannot. Walk the suite with the floor plan and decide whether three private offices and one conference room match how your team meets, since moving a wall in a prebuilt turns slow once filings start. A partial floor has a neighbor, so settle where the demising line falls, who shares the elevator landing, and whether furniture and cabling stay.

Read 2,624 as a rentable number rather than floor you can furnish. Manhattan loss factors typically run 15-25%, so usable area behind that figure lands near 1,970 to 2,230 square feet once core, corridors and restrooms come out. Test 15 desks against the plan, not the arithmetic.

Base rent covers occupancy and, in most Manhattan leases, cleaning of the office areas. Electricity is billed on top at $2 to $4 per square foot per year, $440 to $875 a month here, and insurance, overtime HVAC and the tax and operating escalations sit outside it. The security package surprises first-time tenants most: a letter of credit sized in months of rent behind a good guy guarantee.

Blended rent across the term decides the deal. An uncapped 3% annual escalation carries $60 to about $68 by the fifth year and averages near $64 over five, while three free months on a five-year term takes roughly 5% back off. With little allowance needed on a prebuilt, leverage moves toward free rent, the escalation cap and the security amount.

How Nomad works on this floor

We represent tenants and never landlords, so nobody here sits on both sides of the table at 45 Broadway. Size, asking rent and the monthly figure are published here instead of gated behind a form, because a number a broker withholds is usually one about to move.

Touring is straightforward: we can get a client onto the Partial 12th Floor inside the same week, and we will walk 32 Old Slip and 17 State Street on the same trip so $60 gets judged against something. Having run 300+ buildouts, we can price what changing the prebuilt would cost before you sign.