The Best Office Buildings in Midtown Manhattan

March 11, 2014

Lance Leighton

Co-Founder – HedgeFundSpaces.com
Senior Managing Director, Savills
New York State Licensed Real Estate Salesperson

Call 212-326-8668

The Top Plaza District and Midtown Manhattan Office Spaces

A rapidly growing HedgeFundSpaces.com client asked us for a list of the best New York City office buildings in Midtown.  Though it is not an easy question to answer, based on prestige, tenant roster, location, amenities, and build-out quality, we came up with the following.

Below, we have listed the top Class A+ Buildings, north of 42nd Street, between Seventh and Lexington Avenues.  They are listed from West to East and from North to South.  We have also listed the typical floor size, as many of the premiere buildings have small floor plates that would be appropriate for a small hedge fund or office space user, but inappropriate for a tenant requiring 20,000+ square feet.  Finally, we have estimated the asking rents for these properties, though not all have space available at this time.

Seventh Avenue:

250 West 55th Street – The newest office tower in Midtown Manhattan (completed in 2013).  Floors are virtually column-free and boast extra high ceilings and floor-to-ceiling glass.  Full floors range from 49,000 square feet in the base to +/- 24,000 square feet in the tower.  ($80’s-$90’s/sf)

888 Seventh Avenue One of the premier buildings on the west side of Manhattan.  Tower floors offer incredible unobstructed views of Central Park.  Full floors are +/- 20,000 square feet each.  ($60’s in the base-$140’s/sf on upper floors)

 

Fifth Avenue:

 

9 West 57th Street (Between 5th and 6th Avenues) One of the top two office buildings in New York City due to unparalleled views of Central Park, high-end tenant roster and white glove service.  Full floors of +/- 31,000 square feet (upper floors $180-$200/sf – lower floors $100-$120/sf with no views of Central Park)

 

767 Fifth Avenue (GM Building) One of the top two buildings in NYC due to unparalleled views of Central Park and robust building infrastructure.  Full floors of +/- 37,000 square feet ($100-$200/sf – views of Central Park from the West side of all floors and from the north on a good portion of the floors)

 

712 Fifth Avenue One of the premiere boutique office buildings in The Plaza District.  Higher floors have relatively unobstructed views of Central Park and are +/- 10,000 square feet ($120-$160/sf on floors with views of Central Park)

 

Madison Avenue:

 

667 Madison Avenue The Northernmost office building, located at 61st Street.  High-end tenant roster, boutique sized tower floors (from 15,000 square feet in the base to 7,500 square feet on the top floors). Most desirable floors are at the top of the tower, as they begin to clear the buildings to West and offer views of Central Park. ($120-$175/sf)

 

660 Madison Avenue (Barneys occupies Ground – 12th floors) –  One of the Northernmost office buildings, located at 60th Street.  High-end tenant roster, boutique sized tower floors (from 12,000 square feet on the top floors to 25,000 square feet on the first floors above Barneys).  Desirable units are at the top of the building as they begin to clear the Sherry Netherland to the West and offer views of Central Park.  ($100-$150/sf)

 

650 Madison Avenue (Above Crate and Barrel)Polo occupies the majority of the building for their corporate headquarters.   The tower of the building has floors of +/- 12,000 square feet, was built in 1987 and is one of the few glass and steel office structures in The Plaza District.  High floors have relatively unobstructed views of Central Park and are only 12,000 square feet.  ($120-$160/sf)

 

590 Madison Avenue (IBM Building) – One of the newer buildings in The Plaza District (constructed in 1981).  High floors have good views of Central Park.  One of the most technologically advanced buildings with full floors of 25,000 square feet.  ($100-$150/sf)

 

510 Madison Avenue The newest office building in The Plaza District (completed in 2010).  The asset features glass and steel construction, high ceilings, floor-to-ceiling windows, tenant amenities including gym and lap pool.  Base floors (2-6) leased to SAC Capital, 16,500 square feet each.  Tower floors are 11,500 each.  ($100-150/sf)

Park Avenue:

 

399 Park Avenue One of the best corporate buildings on Park Avenue.  Full floors in the tower are +/- 25,000 square feet and have views up Park Avenue to Central Park and down Park Avenue to the MetLife Building.  ($90-$140/sf)

 

390 Park Avenue (Lever House) Architecturally significant, glass and steel construction and arguably the most desirable boutique building on Park Avenue with approximately 10,000 square foot floors. ($140-$170/sf)

 

375 Park Avenue (Seagram Building) Architecturally significant, glass and steel construction, prestigious tenant roster, home to the Four Season’s restaurant and 18,000 square foot upper floors.  RFR, the building owner, is currently in the process of building an amenity floor with outdoor space for tenant use. ($140-$170/sf)

 

Lexington Avenue:

 

601 Lexington Avenue (CitiGroup Center) One of the best corporate buildings on the East side of the City.  Full floors in the tower are about 26,000 square feet and have panoramic views of Manhattan, Queens and New Jersey.  ($90-$130/sf)

 

599 Lexington Avenue One of the newer Midtown office buildings (constructed in the 1980’s).  Tower floors have incredible northern, eastern and western exposures.  Full floors are +/- 21,000 square feet each.  ($70’s-low $100’s/sf)

 

450 Lexington Avenue   Arguably the best building near Grand Central.  Built in 1992, it is one of the newer office buildings in Midtown.   All units have floor-to-ceiling windows and no convectors.  Full floors are +/-23,000 square feet each.  ($90’s- low $120’s/sf)

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