Find Union Square Office Space

Rent Offices in Union Square, NYC | Private & Executive Workspace

Union Square is a bustling neighborhood in the heart of Manhattan, New York City. The area is known for its Greenmarket, food vendors, and shopping. Union Square Park is a popular spot for locals and tourists alike, with the surrounding area serving as home to many businesses, including technology startups, advertising agencies, and law firms.

The range of office spaces currently available in Union Square all vary in size, age, features, style, and location, with the bulk of them conveniently customizable to suit your unique requirements. Union Square is well-connected by public transportation, with several subway lines and buses passing through the area, making it an ideal location for businesses looking to be in the heart of Manhattan. Additionally, Union Square is surrounded by some of New York City's most desirable neighborhoods, including Greenwich Village, the East Village, and the Flatiron District, providing businesses with a diverse pool of potential employees and clients.

If you are interested in renting an office space in the Union Square area of Manhattan, view the wide selection of options found above. You can also contact us directly or fill out a quote form to find out more about the private offices and flexible workspaces that are currently available in the Union Square neighborhood.

Commercial Real Estate: Office Space Market in Union Square

Vacancy Rates

As of Q3 of 2022, the total vacancy rate in the Union Square and Flatiron area was relatively similar to that of the rest of New York City. According to data, the overall vacancy rate for office space in Union Square and Flatiron was approximately 15.8%. This is slightly higher than the overall vacancy rate for Midtown South, which was around 15.4%. However, it should be noted that vacancy rates can vary depending on the type of office space. For example, vacancy rates for Class A office space sat at 17.1%, whilst Class B vacancies were at 14.5%.

Prices

On average, direct asking rental prices for office space in Union Square sat at $78 per square foot in Q3 of 2022. This is slightly lower than the average rental rate for New York City, which is around $81 per square foot. However, it's important to note that rental rates can be negotiated and may vary depending on the specific building, the length of the lease, and other factors.

Major Industries in Union Square, Manhattan

Union Square is a popular location for office-based businesses. The neighborhood is home to many companies in a variety of industries, but some of the major industries that are well-represented in the area include:

Technology: The Union Square area is home to many technology startups and companies, as well as venture capital firms and accelerators that support these companies. The proximity to nearby Silicon Alley and the Flatiron District, which is a well-known technology hub, makes it a popular location for technology businesses.

Advertising and Marketing: Many advertising and marketing agencies have offices in the Union Square, which is home to several major media and advertising companies. The area's proximity to major publishers and media outlets in nearby neighborhoods, such as Greenwich Village, also makes it an attractive location for these types of businesses.

Healthcare: Various healthcare-related businesses are situated in and around Union Square, including medical practices, hospitals, and research institutions. There are also several medical-related startups that have offices in the area, as it's close to New York University Medical Center.

Education: The area around Union Square is home to prestigious universities and colleges such as New York University, The New School, and Parsons School of Design. These institutions all require office space for administrative and research purposes, some of which can be found outside of their associated campuses.

The area is also home to a wide variety of other office-based businesses such as law firms, financial services companies, consulting firms, and many other professional services companies. The Union Square's central location, easy access to transportation, and proximity to a diverse pool of potential employees and customers makes it an attractive location for many types of businesses.

Advantages of Doing Business in the Union Square Neighborhood

Union Square is an attractive location for office-based businesses, offering a range of advantages to help them thrive. Here are a few key benefits of doing business in the Union Square area of New York City:

Location: Union Square is located in the heart of Manhattan, providing businesses with easy access to all that New York City has to offer. The area is well-connected by public transportation, making it easy for employees and customers to access the area through the 4, 5, 6, L, N, Q, R, and W subway lines. Additionally, the Union Square area is well connected to other parts of the city and New Jersey via the PATH train service, providing easy access to other business hubs.

Access to Talent: Union Square is home to many prestigious universities and colleges, such as New York University, The New School, and Parsons School of Design. This proximity to educational institutions can provide businesses with access to a highly skilled and educated workforce.

Business Community: Union Square is home to a diverse range of businesses and industries, providing businesses with the opportunity to network and collaborate with other companies in the area. There are also several business resource centers nearby that provide a variety of services such as training, mentorship, and advice to help businesses succeed. These centers offer classes and workshops, provide access to technology and equipment, and connect businesses to financing opportunities.

Local Amenities: The Union Square area is home to many restaurants, cafés, and other amenities, providing employees with plenty of options for dining, entertainment, and shopping. The area is also home to the Union Square Greenmarket, a popular farmers' market, which attracts many people, especially from the food and hospitality industry.

Flexibility: The Union Square area also has a number of coworking spaces, incubators, and accelerators that provide office space for small business, freelancers, and entrepreneurs. These types of flexible office spaces are becoming increasingly popular among startups and small businesses, allowing them to minimize the costs and risk associated with traditional office leases while still benefitting from the collaborative, community-oriented environment that these spaces provide.

Perks & Amenities Found in Union Square Offices

Businesses looking to rent office space in Union Square will be happy to know that many of the options listed above come complete with numerous excellent perks and amenities. These core features include things such as shared conference rooms, fully-furnished breakout areas, high ceilings, fast WiFi, ergonomic furniture, and an abundance of natural light.

Fill out the quote form above or give us a call on 972-913-2742 to start your search today. Our team of office space experts are here to help you find your ideal workspace and move in as soon as possible.