Where do investment banking occupiers lease office space in New York?

Most cluster in Midtown. Rent runs ~102 USD/sqft ($102 USD) for trophy and prime stock.

What fit-out spec do investment banking occupiers run in New York?

Typically trophy at $340–525/sqft.

How much office space per seat should a investment banking occupier plan in New York?

Plan ~215 sqft per seat blended. A 100-person team typically takes 21,500 sqft.

What NAICS codes describe the investment banking vertical?

Representative NAICS 2022 codes: 523150, 522110.

What is the talent index in New York?

100/100. Use the city profile for full detail.

Investment banking occupiers in New York typically cluster in Midtown, plan ~215 sqft per seat at trophy fit-out ($340–525/sqft), and pay around 102 USD/sqft ($102 USD) on Class A.

Preferred submarket: Midtown.
Typical fit-out spec: Trophy ($340–525/sqft).
Plan ~215 sqft per seat for headcount sizing.
Class A rent context: 102 USD/sqft ($102 USD).
Typical lease: 10 years with 14 months rent-free.
Talent depth in New York: 100/100.

Investment banking office space in New York

Investment banking occupiers in New York typically cluster in Midtown, plan ~215 sqft per seat at trophy fit-out">fit-out ($340–525/sqft), and pay around 102 USD/sqft ($102 USD) on Class A.

TL;DR

Preferred submarket: Midtown.
Typical fit-out spec: Trophy ($340–525/sqft).
Plan ~215 sqft per seat for headcount sizing.
Class A rent context: 102 USD/sqft ($102 USD).
Typical lease: 10 years with 14 months rent-free.
Talent depth in New York: 100/100.

Where they cluster

Investment banking occupiers in New York typically anchor in Midtown. Bulge-bracket investment banks, top-tier law firms, asset managers, family offices, global media headquarters.

What they pay

Class A rent in New York runs 102 USD/sqft ($102 USD) on a 10-year lease with 14 months free. Trophy submarkets command a 20–40% premium above the city index.

Spec and fit-out

Typical investment banking fit-out targets trophy specification at $340–525/sqft. Bespoke design, signature feature, top-tier MEP and acoustic packages are standard.

Headcount sizing

Plan around 215 sqft per seat blended (workstation + circulation + amenity). A 100-headcount banking office in New York typically targets 21,500 sqft of leasable area.

Talent angle

Bulge-bracket teams favor signature trophy assets with full client-facing programming and large floor plates. Deepest white-collar talent pool in the Americas. Average all-in compensation for senior knowledge workers indexes 100 (the global baseline used elsewhere in this Atlas).

Tax and lease context

Headline corporate tax: 27.5%. Manhattan leases are predominantly modified-gross structures with operating-expense and real-estate-tax escalations over a base year. Free rent (12-18 months on a 10-year term) and tenant improvement allowances ($130-$180/sqft for high-spec build-outs) are core economic levers. Personal guarantees are uncommon at institutional tenant scale; Good Guy Guarantees remain standard for smaller suites.

Key facts

city	New York
industry	Investment banking
naics	523150, 522110
preferredSubmarket	Midtown
preferredFitoutSpec	Trophy
fitoutBand	$340–525/sqft
sqftPerSeat	215
classARentLocal	102 USD/sqft/yr
classARentUsd	$102/sqft/yr
vacancyPct	17.4%
typicalLeaseYears	10
typicalRentFreeMonths	14
talentIndex	100
corporateTaxPct	27.5%

Frequently asked questions

Where do investment banking occupiers lease office space in New York?: Most cluster in Midtown. Rent runs ~102 USD/sqft ($102 USD) for trophy and prime stock.
What fit-out spec do investment banking occupiers run in New York?: Typically trophy at $340–525/sqft.
How much office space per seat should a investment banking occupier plan in New York?: Plan ~215 sqft per seat blended. A 100-person team typically takes 21,500 sqft.
What NAICS codes describe the investment banking vertical?: Representative NAICS 2022 codes: 523150, 522110.
What is the talent index in New York?: 100/100. Use the city profile for full detail.

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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