Boundaries for the Plaza District
The Plaza District is located in Midtown Manhattan and is bound by 6th Avenue to 3rd Avenue from 48th Street to 64th Street.
Class A Medical Leases
The Plaza District contains 113 Class A medical buildings offering 881 different medical spaces for lease. In total, there are currently 11,933,895 square feet of rentable Class A medical space available.
Class B Medical Leases
The Plaza District contains 52 Class B medical buildings offering 167 different medical spaces for lease. In total, there are currently 389,672 square feet of rentable Class A medical space available.
Commute to the Plaza District
The Plaza District contains a large number of subway stations, making the commute to the Plaza District efficient. The Plaza District includes the 6 train subway line, with stations on 51st Street Lexington Avenue, 59th Street Lexington Ave, and 63rd Street Lexington Ave. The E train subway line also connects the Plaza District with a station on 53rd Street and 5th Avenue. The F train subway line can be found on 57th Street and 6th Avenue. The N, Q, and R train subway line can be found on 60th Street and 5th Avenue. The Plaza District also borders Central Park which even makes walking a viable commuting option for those who live near Central Park.
Current Largest Tenants
Currently in the Plaza District medical leasing market, WeWork stands as one of the largest tenants, recently signing a lease for 258,344 square feet of medical space at 368 Ninth Avenue.
New Developments
The newest developments in the Plaza District medical leasing market include Vornado Realty Trust’s plan for one of the biggest medical buildings in New York City for 15 Penn Plaza.
History of Medical Leasing in the Plaza District
The Plaza District is synonymous for the Pulitzer Plaza which sits on the southern tip of the eastern side of Central Park. There you will find the iconic Plaza Hotel and the many premium commercial buildings that surround the area. The Plaza District is known for hosting New York City’s most exclusive medical spaces, with some medical spaces asking $200 per square foot. Overlooking Central Park, medical spaces in the Plaza District offer a unique working experience, blending the steel and concrete landscape of the city, with the greenery of Central Parks canopy.