50 Greene Street: Office Space for Lease

The one floor available right now

One space sits on our book at 50 Greene Street, and it is a full floor rather than a piece of one.

• 3rd Floor, 7,300 square feet, asking $98 per square foot per year. That is $715,400 a year and roughly $59,617 a month before electricity, seating about 42 people at the 175 square feet per person we plan to.

Headcount moves in both directions on a plate this size, to about 52 desks on a dense open plan or nearer 32 once private offices dominate. The floor arrives furnished, with private offices, a conference room, a pantry, exposed brick and hardwood floors, so a team that likes the existing plan can take it with very little construction. We hold our own photography of the space and no floor plan, so a serious test fit starts from the landlord's drawing or a measure taken on the tour.

What $98 means against the rest of the market

SoHo asks more than most of our book, behind only Hudson Yards and Midtown. The nine floors we represent here run $68 to $125 per square foot per year with a median of $98, putting the submarket about 31% above the $75 citywide median across our availability.

At $98 this floor sits squarely in the middle of that range, right on the SoHo median and about 31% above the citywide figure, and One Soho Square at $68 is now the only space we hold in the neighborhood asking less than the city as a whole.

The floor prices with the neighborhood rather than against it. Size is what sorts this submarket: One Soho Square's 27,344 square feet at $68 is both the largest floor we represent in SoHo and the cheapest, while the other eight, this one included, run 3,750 to 7,300 square feet and ask between $78 and $125. Few tenants in a neighborhood built out of loft buildings can absorb a block that large, and One Soho Square's per-foot number follows from that rather than from anything happening at this end of Greene Street.

What sets this floor apart from its SoHo neighbors is size, not rate. $715,400 a year is almost exactly double the $356,250 that 3,750 square feet at $95 costs a tenant up the street at 110 Greene, and the extra money buys feet rather than a better price per foot.

The submarket around the building

Greene Street runs through the middle of the cast-iron district, and the trains reach it from most directions: N/Q/R/W, 6, A/C/E, B/D/F/M. Hiring across the boroughs is easier from an address like that.

Companies that choose SoHo are usually brand-led, fashion, design and consumer businesses that treat the address as part of the pitch, joined lately by AI startups whose founders already live downtown.

Within a short walk our book also holds 6 Greene Street at 4,900 square feet asking $78, 110 Greene Street at 3,750 asking $95, 540 Broadway at 6,350 asking $85, 520 Broadway at 5,539 asking $125 and 60 Charlton Street at 5,003 asking $120. This floor is the largest of that group, and only One Soho Square, 27,344 square feet at $68, sits at a genuinely different scale inside the neighborhood, which is worth knowing before a search widens into NoHo, Hudson Square or Tribeca.

How to judge the floor, and what actually sets the cost

An hour on the floor earns its keep only if it settles what the listing cannot. Establish how the existing plan lines up with yours, since the private offices and conference room already in place either save you construction or become demolition on day one. Confirm what furnished covers and whether the furniture conveys under the lease, how the HVAC is zoned and what after-hours air costs, and whether the elevators can move forty people at nine in the morning. Alteration rights belong in the same hour: the work letter, not the listing, governs what a tenant may move, so ask which changes the landlord approves and who files the DOB paperwork.

Treat 7,300 as a rentable figure rather than a floor you can furnish. Manhattan loss factors typically run 15-25%, putting the usable area near 5,500 to 6,200 square feet once core, corridors and mechanical space come out, and headcount should be planned against that number. Per desk, the asking rent works out to roughly $1,420 a month at 42 people.

Base rent covers occupancy and, in most Manhattan leases, cleaning of the office areas. Electricity is billed separately at $2 to $4 per square foot per year, roughly $1,200 to $2,400 a month here, and real estate tax and operating escalations sit on top. None of that is inside the $98.

Blended rent across the term decides real cost. Escalations of 2.5-3% compound, so an unnegotiated 3% carries $98 to about $110 by the fifth year and averages near $104 across five, and a cap is usually easier to win than a lower starting number. A landlord protecting face rent pays for the deal in free months and improvement dollars instead, and asks for a longer term, a letter of credit and a good guy guarantee in return.

How Nomad works on this floor

We represent tenants and never landlords, so there is no version of this where we sit on both sides of the table at 50 Greene Street. The rent, the size and the monthly figure are published here rather than held back for a phone call.

Arranging the tour is quick, usually within the same week, and we walk the SoHo comparables on the same trip so $98 gets judged against something. Running the lease and the buildout together lets design start while terms are still being negotiated, which is where most of the calendar is won.