45 West 45th Street: Office Space for Lease

The floor available right now

One floor is on our book here, and it is the whole level.

• Entire 10th Floor, 8,230 rentable square feet, currently available.
• Roughly 47 people at 175 square feet each. Open and dense, the plan takes about 59; with private offices it settles closer to 37.
• Asking rent on request. No published number sits against this floor, so we ask for it in writing and pass along what comes back.
• A floor plan and four photographs of the space as it stands, both on the listing page.

Taking a whole level usually means the elevators open into space you control rather than a shared corridor, and no negotiation with a co-tenant over the pantry. You also carry the entire plate whether or not you fill it, so walk it against your real headcount.

What the floor should cost

With no published ask, size this space against the four Midtown floors we currently represent, which run $79 to $130 per square foot per year with a median of $125. That median sits about 67% above the $75 citywide median across our book, which is the plain price of the address.

Run 8,230 square feet through the band and the spread is wide. At $79 the floor costs $650,170 a year, about $54,200 a month; at the $125 median, $1,028,750 a year, roughly $85,700 a month; at $130, $1,069,900 a year, near $89,200 a month. Some $35,000 a month separates the ends, which is why the number in writing matters.

The cheapest Midtown floor we carry, 1700 Broadway at $79 for 13,266 feet, and the dearest, 277 Park Avenue at $130 for 19,097, are both far larger than this one, while the smallest, 7,092 feet at 520 Madison Avenue, asks $125. Pricing in this submarket tracks the address and the condition of the space more than the footprint, so a mid-size floor in the West 40s has no reason to sit at either extreme. On nearly the same footprint, 137 East 25th Street in Flatiron carries 8,308 feet at $43, roughly $56,000 a month less than the Midtown median costs here, and that gap is what the address buys.

The submarket around the building

Transit is why many teams end up in this part of the city: nearly every line, with Grand Central and Penn within reach. When a staff commutes in from everywhere at once, the address stops being an argument.

Midtown is Manhattan's corporate core, holding the deepest supply of large full floors in the city. Our clients land here after outgrowing the boutique buildings to the south, or because the people they sell to expect this address. A team that wants character over efficiency does better elsewhere, and we will say so.

Three other Midtown floors sit on our book alongside this one, spanning 7,092 to 17,296 square feet and 41 to 99 desks, at 520 Madison Avenue, 1700 Broadway and 1450 Broadway. Bryant Park, Grand Central and Penn Plaza sit adjacent, so a search that starts at this door need not end there.

How to evaluate this floor properly

A tour of a full floor should settle facts rather than impressions. Walk the published plan against the space and check where the columns actually fall, because one column in the wrong place costs you a conference room. Ask what condition the floor delivers in, as-is, demolished, or pre-built, since that answer moves the buildout budget more than any finish choice. Establish HVAC hours and the after-hours rate, where the electrical panel and telecom closet sit, and how freight is scheduled on move-in day.

The 8,230 figure is rentable, and rentable is not what you carpet. Manhattan floors commonly carry a loss factor in the 15-25% range, so ask for the usable measurement in writing: at 20%, this floor delivers closer to 6,600 feet you can occupy. That does not break the 47-desk plan, since 175 square feet per person is a rentable-basis figure, but it is what your architect works from.

Base rent is rarely the cost of the space. Settle how electricity is handled, whether direct-metered, submetered, or folded into rent as a charge that escalates on its own, whether cleaning is included, and what base year the tax and operating escalations run from, because a soft base year quietly adds dollars per foot by year three. Term length is the lever behind the rest: a floor this size typically trades on five to ten years, and the longer commitment is what buys free rent and an improvement allowance. Seven years with four months free is worth about 4.8% off the face rent before the allowance is counted. The restoration clause, the form of security and the good guy guarantee decide what leaving early costs. Asking rent and taking rent are different numbers, and only the second one gets signed.

How Nomad works on this floor

We work one side of the table. Nomad represents tenants only and never landlords, so nobody here has a listing to protect while advising you. Where an asking rent exists we publish it, and where it does not, as here, we go get it and show you what came back.

Touring the 10th floor is something we can usually arrange within the week, walked with you against the plan rather than left to the landlord's agent. If it proves wrong on the day, the other three Midtown floors on our book are the same phone call, and 300+ buildouts across New York means we can price what turning this plate into an office will take.