Financial

• Monthly rent: $23,000
• Annual rent: $276,000
• Rent per SF/month: $5.75
• Rent per SF/year: $69.00
• Approximate monthly cost per 1,000 SF: $5,750
• Lease length: To be confirmed / negotiable
• Additional charges: To be confirmed

The location is a major strength. Broome Street provides convenient access to SoHo, Nolita, Little Italy, Chinatown, and the Lower East Side, giving employees and clients a strong mix of restaurants, cafés, boutiques, hotels, fitness concepts, and other downtown amenities. The property also benefits from strong subway access, making it convenient for employees commuting from multiple parts of Manhattan and the outer boroughs.

The surrounding area can work particularly well for creative, fashion, design, technology, architecture, media, e-commerce, showroom, and professional-service companies that value a downtown identity rather than a traditional Midtown corporate-office environment.

Compared with 152 Stanton Street, the economics are dramatically lower on a normalized basis: $69/SF/year versus $180/SF/year. Broome Street is therefore approximately 62% cheaper per square foot, while also providing 4,000 SF versus 2,000 SF. The total monthly commitment is lower as well, at $23,000 versus $30,000. However, this comparison should be viewed cautiously because Stanton Street is a retail opportunity while Broome Street is office, and street-level retail typically commands a substantially higher rent.

The 4,000-SF footprint is large enough for a meaningful office operation and could potentially accommodate approximately 25–40 employees depending on the layout and density. It could support a combination of private offices, conference rooms, open workstations, reception, pantry, lounge, or showroom functions.

At this size, the efficiency of the floor plan becomes particularly important. A well-configured 4,000-SF full-floor or loft-style office could provide strong value, while excessive corridors, interior rooms, or poorly positioned columns could reduce the effective usable space.

I would confirm floor and suite number, usable versus rentable SF, window exposure, natural light, ceiling height, passenger and freight elevator access, HVAC hours and responsibility, electrical capacity, bathrooms, kitchenette or pantry, 24/7 access, internet providers, security, and current buildout condition.

I would also clarify whether the $23,000/month rent is gross or modified gross, and whether the tenant is responsible for electricity, real-estate-tax increases, operating-expense escalations, cleaning, HVAC overtime, or other building charges. At 4,000 SF, these additional expenses can materially change the effective occupancy cost.

For a longer-term lease, I would ask about free rent, tenant-improvement allowance, landlord work, annual rent increases, security deposit, renewal options, assignment and subletting rights, and the landlord’s willingness to modify the existing layout.

Overall, 403-405 Broome Street looks like a compelling downtown office option at $23,000 per month for 4,000 SF. At $69/SF/year, the economics are relatively attractive for a large office footprint in this part of Lower Manhattan. Its strongest attributes are the downtown location, proximity to SoHo and Nolita, convenient transportation, substantial 4,000-SF footprint, and potential loft-office character. If the space has strong natural light, an efficient layout, and limited additional charges, it could represent very solid value for a downtown Manhattan office user.