What are NYC's Best Office Buildings
SPACES COMMERCIAL REAL ESTATE
Since the pandemic in 2020, we’ve been experiencing a significant “flight to quality” for office space in Manhattan, with tenants seeking to move into higher-tier buildings that provide a more enriched tenant experience. For executives looking for premier office space in NYC, the first question they ask me is, “What are the best buildings in the City?” Having represented tenants for over 20 years, the answer has changed more often than you might think. Innovations in construction, trends in workplace strategy, changes in building ownership, and the evolving NYC skyline have led to many buildings being added to the list, while others have fallen off.
There are two tiers of “the best” buildings: Class A buildings and Trophy buildings. Trophy buildings are typically the most modern structures, with institutional-grade ownership, situated in well-located areas, and featuring high-end, trend-setting design and finishes both on the exterior and throughout the interior, including the lobby, common areas, and tenant spaces.Class A buildings, on the other hand, are quality modern structures that are beginning to show signs of aging. The disparity is also evident in pricing, with the average price for Trophy buildings at $128.00/RSF compared to $80.00/RSF for Class A space.
Trophy buildings in Manhattan include: