2023 Office Space Rent & Sales
- $33.05 2023 Avg. Asking Rent
- -0.18% Y-o-Y Avg. Asking Rent Change
- 16.82% 2023 Office Vacancy Rate
Melville office price per square foot in 2023 was $33.05 on average. This marked a -0.18% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 16.82% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- New York Class A & A+ Office Space$64.56
- New York Class B Office Space$36.62
- New York Class C Office Space$45.97
Melville, NY Office Asking Rents by Class
Office Spaces for Rent in New York
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2023 Office Construction in Melville, NY
| Office building | Address | SF | Completed |
|---|---|---|---|
| 1860 Walt Whitman Road | 1860 Walt Whitman Road, 11747 | 42,000 | 2009 |
| RXR Executive Park - 68 South Service Road | 68 South Service Road, 11747 | 307,754 | 2006 |
| 40 Marcus Drive | 40 Marcus Drive, 11747 | 90,390 | 2005 |
| RXR Executive Park - 58 South Service Road | 58 South Service Road, 11747 | 285,571 | 2002 |
| Three Greenway Plaza | 155 Pinelawn Road, 11747 | 102,000 | 2000 |
| 41 Pinelawn Road | 41 Pinelawn Road, 11747 | 62,234 | 1995 |
| Melville Richard Meier Office Building | 41 Pinelawn Road, 11747 | 60,217 | 1994 |
| The Melville Office Plaza | 175 Pinelawn Road, 11747 | 103,192 | 1990 |
| 1121 Walt Whitman Road | 1121 Walt Whitman Road, 11747 | 39,250 | 1990 |
| Hunt Office Park | 290-300 Broadhollow Road, 11747 | 242,292 | 1989 |
Worth noting among recent office completions on the Melville market is 1860 Walt Whitman Road, which is currently the largest new office development in the city, at 42,000 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Melville commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.