Office space in
Murray Hill.
One of Manhattan’s 31 office submarkets — advised by DLS Commercial Real Estate, tenant-side, lease by lease.
Murray Hill is a value-priced Midtown East office market between roughly 34th and 42nd Streets east of Madison Avenue — a quieter, residential-edged district offering central access below trophy pricing. It suits professional, healthcare, and nonprofit tenants. DLS Commercial Real Estate advises tenants here, tenant-side, lease by lease.
At a glance
Character
The calmer blocks of Midtown East around Park and Lexington in the upper 30s — prewar character and a residential edge, steps from Grand Central and the Midtown core.
Typical tenant
Professional services, healthcare and medical offices, nonprofits, and small corporate tenants — occupiers that value central transit and value relative to the trophy markets nearby.
Building stock
A mix of prewar loft and office towers, mid-century blocks, and residential conversions — efficient, modest-to-mid floorplates. The stock favors smaller and midsize requirements.
Rent posture
A Midtown East value: asking rents sit below the Grand Central and Plaza markets, with negotiable terms across a deep base. (Current market data, Q1 2026.)
A DLS datapoint
Illustrative — DLS stamps one original, first-hand figure here (e.g. the discount measured to Grand Central space across recent Murray Hill tours).
Deal footprint
Illustrative — an anonymized DLS engagement in the district goes here (e.g. a professional tenant’s value relocation negotiated near Grand Central on improved terms).
Office inventory
6,550,883 SF of office space across 42 office buildings — 28 of them 50,000 SF or larger, averaging a 1932 vintage.
Small (<50k)
14 buildings, 351,203 SF total, averaging a 1917 vintage.
The floor of the market — single-tenant or partial-floor space.
Mid-Size (50k-150k)
16 buildings, 1,367,361 SF total, averaging a 1923 vintage.
Room to grow — typically several floors for one tenant.
Large (150k-500k)
9 buildings, 2,752,572 SF total, averaging a 1937 vintage.
Anchor scale — often most or all of a building.
Trophy (>=500k)
3 buildings, 2,079,747 SF total, averaging a 1964 vintage.
Headquarters scale — the market's largest occupiers.
Source: NYC Department of City Planning, MapPLUTO (fetched July 2026) — counting only true office buildings: 10,000 SF of office or more, office above grade (not a ground-floor office under apartments), purpose-built or converted loft/office-condo stock. Spatially joined to DLS’s 31 mapped submarkets.
Where rents sit
Asking rent, $/SF · Current market data, Q1 2026 — consistent across sources.
Questions
What is the office market like in Murray Hill?
Murray Hill is a value-priced Midtown East office market in the upper 30s east of Madison — prewar and mid-century space leased by professional, healthcare, and nonprofit tenants near Grand Central. DLS Commercial Real Estate represents tenants here, negotiating central space and terms below the trophy cores.
Does DLS represent tenants in Murray Hill?
Yes. DLS Commercial Real Estate advises office tenants across Murray Hill and Manhattan's other office submarkets — the tenant's interests only, with a fee customarily paid by the landlord.