Perhaps Midtown Manhattan’s most important commercial submarket, the Plaza District needs no real introduction: its location around the site of the former Plaza Hotel at Fifth Avenue and Central Park South, extending west to Seventh Avenue, east to Third Avenue, and south to 42nd Street, is as prime as any Manhattan office can get. From St. Patrick’s Cathedral to Fifth Avenue shopping and the General Motors Building – the most valuable office building in North America when it traded hands in 2003 – the Plaza District is one of New York City’s most iconic commercial locations and home to some of the country’s most valuable corporations.
With easy access to almost every subway line and Grand Central Station just a short walk – or one subway stop – away – it’s easy to see why the Plaza District is consistently Manhattan’s most expensive – and exclusive – commercial submarket. With inventory over 240 million square feet of office space, Midtown Manhattan – and the Plaza District within– is perhaps the most densely used piece of real estate in the world. The vacancy rate in Midtown in the first quarter of 2012 was less than 10 percent; average asking rents topped $66 per square foot, while those for Class A spaces were $74 per square foot.
The Best Manhattan Office Buildings in the Plaza District
- 640 Fifth Avenue
- 640 Fifth Avenue offers high performing, Vornado-owned boutique office space in a renovated building with the prestige and convenience of a Plaza District address.
- 320 Park Avenue
- After a $78 million renovation in 1995, 320 Park Avenue has also added LEED and Energy Star accolades to its credentials as a Plaza District standout.
- 599 Lexington Avenue
- 599 Lexington's green aspects earned the building LEED-EB (Existing Building) 2.0 honors, and their seamless integration into the building's distinctive design is as good an advertisement for the idea of LEED-EB as is imaginable.
- 11 Penn Plaza
- Owned by Vornado, 11 Penn Plaza is located on the the east side of Seventh Avenue between West 31st and 32nd Streets, directly across from Madison Square Garden and Penn Station.
- 545 Madison Avenue
- With its mid-century foundations and next-generation sustainability, 545 Madison is a gold-standard green building that offers both a familiar address and a bright future.