Office Space for 75 People in NYC

What 175 square feet a head absorbs at 75

The allowance is a room schedule, not a desk measurement. Seventy-five workstations at roughly 65 feet apiece come to 4,875. The room the whole company gathers in takes 900, three six-person meeting rooms 600, two huddles 240, eight booths 320, four private offices 480, a pantry seating thirty 900, reception and the IT room 400, wellness and storage 250. That is 8,965 feet of program; circulation absorbs the remaining 4,160, a third of the plate.

Our own book brackets it. 1239 Broadway's 12th floor is 12,500 feet built for a team of 75 to 80, or 156 to 167 feet a head, on polished concrete under exposed ceilings, with new linear lighting and updated restrooms already paid for. We count 71 desks on that plate, and the distance between 71 and 80 on identical square footage is the whole argument about allowances in a single floor. Put doors on fifteen seats and the number drifts past 200, since a wall consumes circulation on both faces.

Erring low and erring high do not cost the same at this headcount. Take 150 feet a head and you sign for 11,250 feet, a plate that seats everyone on day one and has nowhere to put the second conference room the company asks for in month nine, which is when a lease starts costing you in recruiting rather than rent. Take 200 and you sign for 16,250 feet at $1,007,500 a year on the $62 median, $193,750 above the 175-foot number, to hold desks nobody has been hired into. We would rather close that gap with a first-offer right and a termination option than with rent.

What 75 people cost, monthly and against the $75 median

13,125 square feet at $62 is $813,750 a year, $67,813 a month, against $82,031 at the $75 median across our book. The spread inside the bracket still dwarfs that $14,218: nine of the eleven publish a rent, $50 to $130, or $54,688 against $142,188.

Per head, the cheap large plate beats the right-sized expensive one. 1700 Broadway's 26th floor is 13,266 feet at $79, $87,335 a month, 177 feet and $1,164 a person. 151 West 26th Street's penthouse is 17,610 feet at $56, $82,180 a month, 235 feet and $1,096. The Chelsea floor costs $5,155 less a month and hands you 4,344 more feet.

Only five submarkets hold a floor this big. On 13,125 feet Chelsea's $56 median is $61,250 a month, Union Square's $87.50 is $95,703, SoHo's $98 is $107,188, Bryant Park's $96 is $105,000 and Midtown's $125 is $136,719, and Chelsea alone sits below our citywide median. Electric adds $2,188 to $4,375 a month, a 3 percent escalation carries the payment to $76,324 by year five, and five months free straight-lines a five-year term to about $57.

What the floor has to hold, and the feet you are not renting

At seventy-five the room schedule becomes infrastructure. One space has to hold the whole company, usually the pantry doing double duty, so it needs power, sound and sightlines, and meeting rooms need two sizes, since a six-person room tied up by two people on a headset is the standard complaint at this scale.

New York leases on rentable feet, lobbies, corridors and mechanicals included, while usable runs 15 to 25 percent below. On 13,125 rentable, usable is 9,844 to 11,156, so the honest allowance is 131 to 149 feet a head and the program above leaves 900 to 2,200 feet of circulation on a plate wanting 4,000. Holding 13,125 usable means renting 15,441 to 17,500, which is why the biggest floors here are no hundred-person over-buy: 1450 Broadway at 17,296 and 151 West 26th Street's 17,610-foot penthouse both land inside it. Get the loss factor stated in the lease and pay for a test fit.

113 people, and the clauses that buy the room

One and a half times seventy-five is 113, needing 19,775 feet, $102,171 a month at $62. Nothing here reaches it: 277 Park Avenue's partial 40th is the largest at 19,097 feet, and only One Soho Square's partial 2nd, 27,344 feet at $68, has room to spare. Pushed back into 13,125, 113 people get 116 rentable feet each, 87 to 99 usable. The real ceiling is 87.

Set the term against how honest the forecast is. The improvement allowance here runs $30 to $50 a foot, $393,750 to $656,250, funded against term length, so seven and ten years price better than five. Sign long only alongside an exit: a first-offer right on contiguous space, a priced termination, a negotiated sublet clause. That right needs something to point at: 151 West 26th Street and 30 West 21st Street each list a second floor today. Expect a good guy guarantee, three to six months of security, and four to six months for a fit-out through DOB filing and permit.

What is on our book right now at this size

Eleven floors clear the bracket, and their desk counts describe this market better than their rents do. Two of them seat 75 as drawn. 1700 Broadway's 26th floor in Midtown is 13,266 feet and 76 desks, built two years ago to a very high standard as a mix of offices, open area and conference rooms, furnished and in move-in condition at $79, or $87,335 a month. 836 Broadway's 2nd floor in Union Square is 13,754 feet and 79 desks, priced on application. Below that pair the counts fall to 71, 60 and 54, and above it they jump to 99 and keep climbing, which is why a shortlist at this headcount is always short.

Three of the eleven carry real scale at or under our citywide $75. 275 Seventh Avenue's 24th floor in Chelsea is 18,668 feet at $63, 107 desks, about $98,007 a month. 151 West 26th Street's penthouse is 17,610 feet at $56 and 101 desks, about $82,180 a month, loft-style with a conference room and pantry and the cheapest of the large plates by the foot. 1450 Broadway's 4th floor in Bryant Park is 17,296 feet at $65 and 99 desks, about $93,687 a month, behind a redesigned lobby with upgraded systems and 24/7 concierge service. A fourth plate carries the same scale with none of the restraint: 277 Park Avenue's partial 40th in Midtown is 19,097 feet and 109 desks at $130, about $206,884 a month, the largest and the dearest floor in the bracket.

The remaining four are where a 75-person team lands if it prices the allowance down rather than up. 1239 Broadway's 12th floor in NoMad is 12,500 feet at $62, about $64,583 a month. 1235 Broadway's furnished and wired 4th floor and 127 West 26th Street's 7th are both 9,500 feet, at $62 and $50, about $49,083 and $39,583. 30 West 21st Street offers its 9th and 10th together, 10,562 feet and 60 desks across two contiguous floors, priced on application as 836 Broadway is, and we quote both live. Send us the headcount, the move date and the rent ceiling, and we will tell you which three are worth an afternoon.