White Plains Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $36.74 2023 Avg. Asking Rent
  • 0.45% Y-o-Y Avg. Asking Rent Change
  • 24.37% 2023 Office Vacancy Rate

White Plains office price per square foot in 2023 was $36.74 on average. This marked a +0.45% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 24.37% 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

  • White Plains Class A & A+ Office Space$41.47
  • White Plains Class B Office Space$29.58
  • White Plains Class C Office Space$21.78
  • 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

White Plains, NY Office Asking Rents by Class

Average office rent in White Plains rested at $36.74 per square foot in 2023. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in White Plains averaged $41.47 per square foot. Across all submarkets, class B office space recorded an average asking rent of $29.58 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $21.78 per square foot, on average. Comparably, statewide New York average office rents by class in 2023 were: $64.56 per square foot for class A office space; $36.62 per square foot for class B office space; $45.97 per square foot for class C office space.

2023 Office Vacancy Rates in White Plains

Submarket Asking Rents Vacancy Rates
White Plains - West $40.64 25.04%
North Castle $33.50 69.74%
White Plains - East $32.45 24.48%
Greenburgh $31.56 18.90%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the White Plains market was 24.37% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in White Plains was 18.90% in the Greenburgh submarket, while the highest office vacancy in the market was 69.74%, recorded in North Castle.

Office Spaces for Rent in New York

Coworking Spaces in New York

Largest Office Properties Recently Completed in White Plains
Office building Address SF Completed
The Ritz Carlton Building 7 Renaissance Square, 10601 68,148 2008
360 Hamilton Avenue 360 Hamilton Avenue, 10601 393,710 2000
10 Bank Street 10 Bank Street, 10606 235,285 1989
231 Central Ave 231 Central Avenue, 10606 12,770 1989
231 Central Avenue 231 Central Avenue , 10606 12,770 1989
15 Fisher Lane 15 Fisher Lane, 10604 18,000 1988
City Square - 50 Main Street City Square - 50 Main Street, 10606 309,000 1986
222 Bloomingdale Road 222 Bloomingdale Road, 10605 142,172 1986
81 Main Street 81 Main Street, 10601 121,696 1984
12 Water Street 12 Water Street, 10601 45,864 1983

Worth noting among recent office completions on the White Plains market is The Ritz Carlton Building, which is currently the largest new office development in the city, at 68,148 square feet.

Data provided by Commercial Edge

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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 White Plains 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.