245 Fifth Avenue, New York, NY 10016 – Midtown South / NoMad
Asking Rent: $25,000/month
Space: 5,385 sq ft
Property Type: Office (Full or Partial Floor)
Rent per Sq Ft: $4.64/month ($55.68/sq ft annualized)
Property Overview
This 5,385-square-foot office space at 245 Fifth Avenue presents a substantial and prestigious opportunity in a prime Midtown South/NoMad location. With an asking rent of $25,000 per month, it is suited for a growing firm, established professional services company, or creative agency seeking a central, full-floor or large partial-floor presence with excellent building amenities and transit access. The space offers a balance of classic prestige and modern convenience
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Space Highlights
- Substantial office space of 5,385 sq ft, likely configured as a full floor or a large partial floor in a well-maintained office building.
- Suitable for a mid-to-large size law firm, consultancy, tech company, marketing agency, or financial services firm.
- Features likely include efficient floor plates, high ceilings, large windows for natural light, and standard Class B+/Class A finishes.
- Space will require a tenant build-out to meet specific operational and branding needs, with potential for a tenant improvement (TI) allowance.
- Building amenities typically include 24/7 access, security, on-site management, modern elevators, and possibly a tenant lounge or conference facilities.
Location & Neighborhood
- Prime Midtown South/NoMad location on Fifth Avenue between 28th and 29th Streets.
- Situated in a dynamic and evolving district known for its mix of traditional office tenants, tech firms, and creative industries.
- Adjacent to the Madison Square North (NoMad) Historic District, surrounded by upscale hotels, restaurants, and retail.
- Walking distance to Madison Square Park, The Flatiron Building, and Koreatown.
- Excellent access to a deep talent pool and a wide range of business services.
- Outstanding transit access with multiple subway lines within blocks: 6 train at 28th St, N/Q/R/W, B/D/F/M, 1 train at 34th St-Herald Square, and PATH at 33rd St.
- Highly walkable to Penn Station, Grand Central Terminal, Chelsea, and the Flatiron District.
Summary
Priced at $25,000/month ($4.64/sq ft/month), this 5,385 sq ft office space at 245 Fifth Avenue offers competitive value for a sizable footprint in a central and prestigious business corridor. The annualized rent of $55.68 per square foot is market-appropriate for a well-located building in the thriving NoMad/Midtown South submarket. This space is ideal for a company looking to establish or expand its headquarters with a formal yet modern address that provides efficiency, visibility, and excellent accessibility for employees and clients. It represents a strategic upgrade for firms outgrowing smaller spaces or seeking a more prominent location without the premium cost of pure Class A towers further north on Fifth Avenue.
