PrebuiltNew to MarketFlatiron · Entire 7th floor
111 Fifth Avenue
- Size
- 19,500 SF
- Asking
- $89/SF
- Monthly
- $144,625
Direct · Available now
Office space in Midtown South
Chelsea, Flatiron, NoMad, Union Square and Penn Plaza: where New York’s tech economy concentrates.
Midtown South is the market name for the stretch between roughly 14th and 34th Street, taking in Chelsea, Flatiron, NoMad, Union Square, Gramercy and the Penn Plaza area. It is where New York’s tech and creative economy concentrates: close to 70% of Manhattan’s AI leasing this year landed here.
Availability is higher than the headlines suggest, about 17% at the last count, but the best-built floors still clear fast.
Live market
Midtown South office market right now
Asking rent
$50–$150per SF per year · typical $86Space sizes
3,700–26,600 SFrentable square feetMonthly asking cost
$20K–$246Kbase rent, before escalations, taxes and operating expensesLease type
Mostly direct, some subleaseFurnished options · Some available nowMarket data updated automatically from Nomad’s live inventory · Updated October 4, 2026. Based on Nomad’s live Manhattan inventory and recent market activity. Asking figures; actual deal terms vary. This page combines Nomad’s listings in Chelsea, Flatiron, NoMad, Union Square, Gramercy and Penn Plaza; each listing keeps its own neighborhood. Broker commentary updated October 2026.
Available now
Spaces we’re showing in Midtown South
PrebuiltNew to Market
Second-generationNew to MarketNoMad · Entire 4th floor, Suite 400
387 Park Avenue South
- Size
- 19,269 SF
- Asking
- $85/SF
- Monthly
- $136,489
Direct · Available now
PrebuiltNew to MarketPenn Plaza · Entire 21st floor
1375 Broadway
- Size
- 18,324 SF
- Asking
- $75/SF
- Monthly
- $114,525
Direct · Available now
Custom buildNew to MarketUnion Square · Entire 6th floor, Suite 600
902 Broadway
- Size
- 18,200 SF
- Asking
- $75/SF
- Monthly
- $113,750
Direct · Available now
Prebuilt · FurnishedNew to MarketNoMad · Partial 2nd floor, Suite 200
1250 Broadway
- Size
- 17,852 SF
- Asking
- $86/SF
- Monthly
- $127,939
Sublease · Available now
PrebuiltNew to MarketGramercy · Entire 9th floor, Suite 900
315 Park Avenue South
- Size
- 17,050 SF
- Asking
- $98/SF
- Monthly
- $139,242
Direct · Available now
Compare
Midtown South vs. Lower Manhattan
| Midtown South | Lower Manhattan | |
|---|---|---|
| Asking rent per SF | $50–$150 | $40–$115 |
| Typical asking per SF | $86 | $60 |
| Space sizes | 3,700–26,600 SF | 3,000–11,900 SF |
| Monthly asking cost | $20K–$246K | $12K–$83K |
| Lease type | Mostly direct, some sublease | All direct leases |
Both columns from Nomad’s live inventory in each neighborhood, asking figures.
From the broker
What we’re seeing in Midtown South
Midtown South is where most of New York’s growing tech and creative companies are landing. There’s more choice than the headlines suggest, but the best-built floors still go quickly. The teams that win know which three or four buildings fit before they start touring.
Matthew DeRose, Co-Founder & CEO · Updated October 2026
Nomad in Midtown South
Companies we’ve moved here
Small Door
Two New York offices with Nomad, including a 5,500 SF move in under 30 days.
Expansion · Chelsea → NoMad · 5,500 SF
Read story“They move fast, do what they say, and are a great team to work with.”
Florent PeyreCo-Founder & CEO, Small Door Veterinary
Hampton
A private, branded hub on one all-inclusive monthly bill.
Flex HQ · Chelsea · 5,000 SF
Read story
CollegeVine
A landmark sublease secured in 48 hours despite competing interest.
Sublease · Union Square · 4,000 SF
Read storyMarket context
From our latest quarterly report
17.1%Midtown South availability, Q2 2026
719,200 SFAI leasing across Manhattan in 2026 to date, close to 70% of it here
Up to $170Trophy asking per SF on Unicorn Lane
Source: Manhattan Office Market Report, Q2 2026. Asking rents are quoted rates, not averages, unless stated.
Questions
Office space in this neighborhood: common questions
How much does office space cost in Midtown South?
Asking rents for the spaces Nomad is showing in Midtown South currently run $50–$150 per square foot per year, with a typical asking rent of about $86. For a full space that’s roughly $20K–$246K a month in base rent, before escalations, taxes and operating expenses. Final terms depend on the building, the condition of the space and the lease length.
What size offices are available in Midtown South?
Listings Nomad is showing in Midtown South range from about 3,700 to 26,600 rentable square feet, mostly direct leases, with some subleases. Most of what fits a growing team never reaches a listing site, so a Nomad Space Book also covers off-market options.
Is Midtown South more expensive than Lower Manhattan?
Right now, typical asking rents in Midtown South (about $86/SF) are higher than Lower Manhattan (about $60/SF), based on Nomad’s live inventory in both. The gap depends on building class and condition, so comparing specific floors matters more than neighborhood averages.
Can you find furnished or sublease space in Midtown South?
Yes. Nomad’s current listings include furnished options and subleases. A furnished sublease can get a team in quickly, usually for the rest of the existing tenant’s term.
What neighborhoods make up Midtown South?
Broadly the area between 14th and 34th Street. On this page it combines Chelsea, Flatiron, NoMad, Union Square, Gramercy and Penn Plaza.
Why are AI companies leasing in Midtown South?
Close to 70% of Manhattan’s AI leasing in 2026 to date (719,200 SF across 21 deals) landed here, drawn by prewar lofts, flexible floors and a dense tech community (Q2 2026 report).
How much space is available in Midtown South?
Availability was about 17.1% at the end of Q2 2026, more than the headlines suggest. The best-built floors still lease quickly.
Getting there
Transit
- Penn Station (1, 2, 3, A, C, E, LIRR, NJ Transit, Amtrak)
- 34 St–Herald Sq (B, D, F, M, N, Q, R, W) and PATH
- 14 St–Union Sq (4, 5, 6, L, N, Q, R, W)
- Broadway (R, W) and Park Avenue South (6) local stops every few blocks
Read more
Our Midtown South guides
How we work for tenants: Nomad tenant representation · How a Nomad search works
Looking in Midtown South? We’ll build the market.
Tell us your team size, timing and budget. A Nomad broker reaches out within the hour during business hours, with listed and off-market options.