Penn Plaza Office Space: What Is Available and Why Companies Choose It

Penn Plaza office space is found on the blocks around Penn Station and Moynihan Train Hall, from Seventh to Ninth Avenue in the low 30s, and the live block on this page lists the floors we have there with their sizes and asking rents. Companies choose the area for two reasons: the commuter rail underneath it, which shortens the trip for anyone arriving from Long Island or New Jersey, and loft floors that price below the districts on either side. Nomad Property Group shortlists the floors, tours them with you and negotiates the lease.

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Updated 2026-10-03 · Nomad Group

What is available around Penn Station

The live block further down is the current list, with the size and asking rent of each floor and the median for the area. It changes when a floor leases, so read it there and not from memory.

As for the kind of space, the area mixes garment-era loft buildings with postwar office blocks. The lofts have concrete frames, ceilings of eleven feet or more, big windows and full floors. Some buildings have been repositioned with new lobbies and systems, and prebuilt floors turn up in the towers over the station. The area also takes in the southern blocks of the Garment District.

Why consider it: two train halls and a lower rent

The first reason is rail. The LIRR, NJ Transit and Amtrak all run into Penn Station and Moynihan Train Hall, the 1/2/3 and the A/C/E are in the same complex, and PATH is at 33rd Street. Herald Square, a block east, adds two more subway trunks. For staff who live along a commuter line, an office here removes the crosstown leg from every trip.

The second is price. Penn Plaza's lofts ask less than comparable floors in the districts around them, and far less than the new towers of Hudson Yards a few blocks west, which sit on the same rail hub. Penn Plaza vs Hudson Yards compares the two with current figures.

The companies that take space around Penn Station

Companies with a regional workforce, where a large share of staff ride in from the suburbs.
Operations, healthcare-adjacent and media production businesses that want solid floors more than a lobby.
Teams priced out of the tech core who find the commute works better here anyway.
Firms whose leadership rides NJ Transit or the LIRR and feels the advantage twice a day.

The honest trade is the street. The area is in the middle of a rebuild, its polish trails Chelsea and NoMad, and the blocks empty out toward the trains in the evening. The Penn Plaza guide says which blocks to walk before deciding.

How long leasing a Penn Plaza floor takes

With a prebuilt floor and prompt decisions, the first tour and the first day at the desks are six to eight weeks apart. A floor built out to order stretches that to four to six months. Use part of that time to negotiate. Landlords in this area compete for tenants with concessions, more than in any other district we cover. Ask each building about its renovation plans while you tour, since a lobby due to be rebuilt next year changes what you are leasing.

Whom Nomad represents on a Penn Plaza search

On a tenant's search, Nomad works for the tenant. We shortlist across owners, negotiate against the landlord's side and compare offers on total cost. Nomad also offers agency leasing and owner representation, so it leases some buildings on behalf of their owners. If one of those suits your brief, we tell you. Acting for both parties is permitted in New York only when each gives informed consent. In most transactions the landlord pays the broker fee. The brokerage service describes the work.

Penn Plaza office space available now

Live from our listings · cheapest first

3 offices are available in Penn Plaza right now, from 5,070 to 6,100 square feet, asking $50 to $135 per square foot per year. The Penn Plaza median is $52.

Floors: 3
Sizes: 5,070-6,100 sq ft
Asking rent: $50-$135 / sq ft
Median: $52 / sq ft

Everything available in Penn Plaza, with photos and rents →

The full guide

This page is the short answer. The long one, with the numbers worked through, is here:

Is Penn Plaza the same as the Garment District?

Partly. Penn Plaza, as we draw it, takes in the Garment District's southern blocks just above the station. The buildings are the same garment-era lofts, and nothing about them ties a tenant to fashion.

Which commuters gain most from an office at Penn Plaza?

People arriving by LIRR, NJ Transit or Amtrak, who can walk from the platform to the office. Subway riders on the 1/2/3 and A/C/E are also well served. A team that lives mostly along east-side lines may find a district farther east shortens more trips.

Is the area around Penn Station good enough for a headquarters?

For a team that builds its culture indoors, yes. Moynihan Train Hall has improved the arrival and the lunch options, and renovated lobbies keep appearing. A company that needs the neighborhood to impress visitors may prefer to pay more elsewhere.

Do Penn Plaza landlords negotiate on rent?

More readily than in most of Manhattan. There is more space here than fashionable demand for it, so owners compete with free months, contributions to the buildout and flexible terms. Treat the published asking rent as where the conversation opens.

Talk to a broker

Want this answered for your team?

Tell us three things: team size, timing, budget. A first shortlist can be ready within 24 hours, with the asking rent on every floor that publishes one.

Within the houra broker reaches out during business hours, no automated triage
On your sidewe work for you on your search, and the landlord usually pays our fee
Open pricingasking rent published for 46 of 49 floors, size and address for all
300+ officesdelivered in New York, 2M+ sq ft leased

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