What is the current state of the Midtown office market?

Midtown's office market is adjusting to hybrid work patterns, with Class A buildings asking $84/SF near transit hubs performing strongest — while Class B space at $55/SF offers value-oriented tenants an entry point. Overall availability has stabilized around 13%, and landlords who invest in building upgrades and flexible lease structures are seeing renewed demand. Our market analysis provides landlord-specific insights on where your building fits in the current landscape.

How do you source commercial tenants in Midtown?

We use a multi-channel approach including broker network outreach, commercial listing platforms like CoStar and CBRE, direct outreach to expanding businesses, and relationships with corporate relocation firms. Midtown's tenant pool is deep, and our sourcing strategy reaches both local and national businesses seeking Manhattan presence.

What lease terms should I expect for Midtown commercial space?

Office leases in Midtown typically range from 5 to 10 years for traditional tenants, with shorter terms for flex and startup occupants. Retail leases average 7 to 10 years, with the average across all Midtown commercial space at eight years. We negotiate rent escalations, build-out provisions, and tenant improvement allowances that protect your long-term income and minimize landlord risk.

Commercial · Midtown

Commercial Leasing in Midtown Manhattan

Midtown Manhattan is the epicenter of New York City's commercial real estate market — the largest central business district in the world. For landlords with commercial space in Midtown, the opportunity is immense but so is the competition. Office inventory measured in the hundreds of millions of square feet, retail corridors spanning from Fifth Avenue at $3,047 per square foot — the most expensive retail in the world — to Herald Square at $383 per square foot, and a restaurant scene serving millions of daily workers and visitors create one of the most complex commercial leasing environments anywhere.

Meraki Realty provides exclusive landlord representation for commercial leasing throughout Midtown, covering the Plaza District, Grand Central corridor, Times Square area, Penn Station vicinity, and the side streets between major avenues. Our focus on landlord-side representation means our deal structuring, tenant vetting, and negotiation strategy are built to protect your position in every transaction.

Midtown's commercial market is driven by corporate demand cycles, office-to-residential conversion trends, and the ongoing evolution of the retail and food service landscape. With Class A office space asking $84 per square foot and Class B at $55, understanding where your property sits in this spectrum — and how macro trends affect your specific position — is essential to securing tenants at market-rate rents with strong lease terms. Our team provides this analysis as the foundation of every commercial leasing engagement.

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Local Expertise

Why Midtown Landlords Need Strategic Leasing

Office Market Repositioning

Midtown's office market is evolving as hybrid work reshapes demand. With Class A asking rents at $84/SF and Class B at $55/SF, landlords need to understand which tenants are expanding, which are contracting, and how to position their office space — whether through upgrades, flexible configurations, or strategic pricing — to attract the right-sized occupants at competitive rents.

Retail Corridor Segmentation

Midtown retail varies dramatically by location — Fifth Avenue luxury at $3,047/SF, Times Square tourism at $1,506/SF, Madison Avenue prestige at $930/SF, and Herald Square at $383/SF. Understanding where your space sits in this spectrum and matching it to the right retail corridor strategy is critical to attracting viable tenants.

Restaurant and Food Service Density

Midtown's lunch and dinner markets are intensely competitive. Restaurant tenants need concepts differentiated enough to capture the office worker and visitor traffic. We evaluate restaurant viability based on location-specific foot traffic patterns and existing competition.

Corporate Tenant Credit Standards

Large corporate tenants offer lease security but demand favorable terms. Balancing credit quality with deal economics requires experienced negotiation and clear understanding of what your space is worth in the current market.

Our Approach

What We Offer in Midtown

Corporate Tenant Pipeline

Our relationships with corporate real estate departments and tenant representation firms give landlords access to pre-qualified office tenants actively seeking Midtown space.

Transit Hub Advantage Marketing

We quantify and market your space's proximity to Grand Central, Penn Station, and major subway hubs — the transit advantages that drive both office and retail tenant decision-making in Midtown.

Flexible Space Strategy

For landlords considering flex or co-working arrangements, we analyze the economics and negotiate terms that protect landlord interests while tapping into the growing demand for flexible commercial space.

Market Data