Serviced Offices in New York

Considering the global economic downturn which has had a negative impact on the London commercial property market, a notable exception is the Serviced Office New York market which has grown by 19% over the past twelve months. New York is now the second largest serviced offices market globally.If you are looking for Office in New York, serviced offices provide an affordable alternative to the traditional lease.

We believe the state of the global economy has led to CEO’s looking for increased flexibility to mitigate this uncertainty.

Over the past few years the global serviced office market has continued to grow from US$ 3.6 billion in 2005, to US$ 5.2 billion in 2008 and US$ 6.2 billion in 2010. Considering the global economic downturn started in 2007, the Serviced Office market has proved remarkably resilient.

Serviced Offices account for some ¾ of a million workstations covering some 80 million square feet. There are now in excess of 1,400 cities worldwide with centres offering Serviced Offices. This includes virtually every major city around the world. Office Space in New York comes at a high premium. The average price per workstation in New York is approximately $ 810.00 with the average number of workstations per office averaging 3.4, the highest for any centre in the USA. Most Serviced Offices in New York provide a private office along in the Serviced Office Space as this is typically a prerequisite. This is less common in other centres.

In terms of scale, New York has the second biggest share of the global market at approximately 2% with over 100 serviced office centres. This can make looking for that ideal Office Space in New York a daunting challenge. Sites like ours can help narrow down the options to those few ideal offices that best address your needs.

While the USA has the second largest market for serviced offices behind the United Kingdom, with one in every four centres worldwide located here, other parts of the world are starting to see significant growth in this area. The Asia Pacific region is currently the smallest market but has considerable growth as more companies appreciate the advantages that Serviced Offices provide.

In terms of operators, Regus is the world’s largest provider of Serviced Offices with approximately 20% of the global market with Servcorp the next biggest with a 2% market share.

Serviced Office locations in New York Number of Serviced Offices
(1) Chelsea (15)
(2) Flatiron (2)
(3) Forest Hills (1)
(4) Grand Central (39)
(5) Long Beach and Seal Beach (10)
(6) Med Center (2)
(7) Midtown NY (42)
(8) Penn Station (4)
(9) The Villages (7)
(10) Theatre District (4)
(11) Tribeca (6)
(12) Wall Street (17)

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