In 2022, it was predicted that 25% of all professional jobs in North America would be remote by the end of the year. It was also predicted that an even greater number of remote opportunities would arise in 2023.
As a result, it’s no surprise that many U.S. businesses have shifted permanently to remote or hybrid work. Lots of these businesses have set up a mailing address and/or virtual office to support their remote working.
Many states, including New York, have seen a dip in office usage in favor of remote work. Countless companies have vacated their offices, especially in Manhattan. Manhattan’s vacancy rate hit 16% and the sublease vacancy rate has increased to 5%.
In turn, this has made having a virtual office in Manhattan an increasingly popular choice. This isn’t surprising as it is one of the most expensive cities for office space.
A virtual office in New York City can bypass the cost of working in a physical office. This way, companies can have a prestigious address for their business without the substantial overhead costs of a full-time office.
And, companies can still get access to a physical workspace when they need it. It's the ultimate in flexibility.
In this article, we will explaore the unique and exciting opportunities that a virtual office here can bring to your company.
Why you should choose New York for your business address
Here are four reasons to set up a business address in New York.
1. Benefit from a global hub for business
New York is one of the most influential business hubs in the world. From finance and tech to fashion and food, the city is full of industry-leading companies.
You can secure a business address in this influential city without paying for office space with a virtual office here.
Pairing your business with a prestigious business address in New York will add a veneer of professional credibility to your organization. This will help to secure new customers and clients as they will be reassured by your esteemed location.
2. Connect with a global talent pool
Given New York’s abundance of booming industries, the city’s talent pool is expansive. And a virtual office in New York City can attract the city’s talent to your business.
Plus, while physical offices limit hiring talent to specific locations, a virtual office widens your employment prospects. You’ll be able to attract candidates from anywhere in the world.
3. Leverage venture capital
As one of America’s centers of innovation, New York continues to be one of the largest attractors of venture capitalists and funding. This means there is an abundance of opportunities here to acquire new capital and induce explosive growth.
Establishing a business address in New York could be your first step towards new, pivotal funding to realize the ultimate vision of your company.
4. Explore and test national/international markets
Whether you’re expanding internationally or nationally, a New York mailing address can be ideal.
With a mailing address or virtual office, businesses can trial expansion into a new market. This flexible approach is ideal for businesses that don’t want to commit to a physical space.
Why choose a virtual office address over a physical office?
Here are three other considerations to make when choosing a virtual office in New York over a physical office.
1. Rising real estate premiums
Office costs are on the rise. The average U.S. office listing rate climbed 0.6% between July 2022 and July 2023, reaching $37.82 per square foot.
However, it isn’t just the cost of office space that’s rising. Economic shifts mean that most costs are increasing. This has made a virtual office in New York City a great way to save money in a city that is costly to rent in.
You can register your business to a virtual office in New York. This way, your business will have a credible address for communications.
However, you won’t have to cover the cost of a physical office. Using a Regus Virtual Office can save rental costs that your business can invest elsewhere.
2. Establish your business in a new market
A virtual office in New York City can enter your business into New York’s global economic powerhouse. Whether you’re launching or expanding your business, New York injects businesses of all kinds with:
● Countless collaboration and networking opportunities
● A large customer base
● Impressive infrastructure
● Broad cultural and market diversity
● Access to media and publicity opportunities
● Many business support services
3. Appeal to a remote/hybrid workforce
Many job hunters seek roles that allow them to work remotely, whether this is from their home or a different location to an office. These roles can even allow them to work for companies in New York, regardless of whether they live there or elsewhere.
Remote or hybrid workforces enjoy flexibility, the comfort of their own homes, and independence as they work. Therefore, offering work-from-home jobs is likely to attract and retain new candidates.
Having a virtual office in New York appeals to both the talent you’re after outside of the city, allowing your business to work with those attracted to this location, as well as hybrid workers who can make it into a location as and when needed.
Regus Virtual Offices allow any kind of worker the freedom to work with you, both from another location and the office location itself.
Virtual offices in New York
Regus offers a wealth of virtual offices in New York. Explore a selection of our top choices across a range of the most in-demand locales in the city:
80 Broad Street
80 Broad Street is an ideal virtual office in Manhattan for businesses looking for a prime NYC address. Broad Street runs through the Financial District of Lower Manhattan, making addresses here great for fiscal businesses.
Highlights include:
● Business lounge
● Sandwich service
● Vending machines
Information about 80 Broad Street
● Location: 80 Broad Street, New York, NY, 10004
● Starting costs: Business addresses from $105 per month
● Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
● Nearby stations: Water Street/Broad Street bus stop (a two-minute walk away), State Street/Whitehall Street bus stop (a two-minute walk away), Bowling Green Subway Station (a three-minute walk away)
99 Hudson Street
99 Hudson Street is a high-profile business location near Wall Street. Given the financial focus of this locale, this business address is ideal for those who work primarily in finance.
Hudson Street is also home to the U.S. headquarters of Penguin Group, making it a great spot for literary businesses, too.
Highlights include:
● Business lounge
● Suspended ceilings
● Vending machines
Information about 9 Hudson Street
● Location: 99 Hudson Street, New York City, NY, 10013
● Starting costs: Business addresses from $119 per month
● Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
● Nearby stations: Hudson Street/N More Street bus stop (a one-minute walk away), Harrison Street/Hudson Street bus stop (a one-minute walk away), Franklin Street station (a three-minute walk away)
287 Park Avenue South
287 Park Avenue South makes for a prestigious New York virtual address on the Lower East Side of Manhattan. Located between Madison Square Park and Gramercy Park, it enjoys a position within one of the more luxurious neighborhoods of the city.
As the locale houses some of the world’s most valuable real estate, businesses in the real estate sector can benefit from this address.
Highlights include:
● Penthouse floor available
● Bike storage
● On-site showers
Information about 287 Park Avenue South
● Location: 287 Park Avenue South, New York City, NY, 10010
● Starting costs: Business addresses from $55 per month
● Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
● Nearby stations: Park Avenue S/E 21 bus stop (a one-minute walk away), E 23 Street/Park Avenue S bus stop (a one-minute walk away), 23 Street Subway Station (a four-minute walk away)
136 Madison Avenue
136 Madison Avenue is located in the creative neighborhood of Murray Hill. This Manhattan business address is ideal for businesses in artistic industries that want to establish themselves in a flourishing community.
Many flagship fashion and jewelry boutiques have been set up here. Exceptional restaurants, spas, art galleries, hotels, and salons also operate in the area.
Highlights include:
● Business park location
● Business lounge
● Vending machines
Information about 136 Madison Avenue
● Location: 136 Madison Avenue, Manhattan, NY, 10016
● Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
● Nearby stations: Madison Avenue/E 30 Street bus stop (a one-minute walk away), 32 Street/Madison Avenue bus stop (a one-minute walk away), 28 Street subway station (a seven-minute walk away)
175 Pearl Street
175 Pearl Street offers a professional New York mailing address and/or virtual office in Brooklyn. Startups thrive here, as do technology businesses of all sizes. This is unsurprising given that
Brooklyn has NYC’s biggest concentration of tech firms.
Highlights include:
● Historic building
● Loft-style interior
● Shared workspaces
Information about 175 Pearl Street
● Location: 175 Pearl Street Dumbo, 1st, 2nd, and 3rd Floor, Dumbo, NY, 11201
● Starting costs: Business addresses from $49 per month
● Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
● Nearby stations: Sands Street/Pearl Street bus stop (a one-minute walk away), High Street - Brooklyn Bridge subway station (a two-minute walk away), Prospect Street/Jay Street bus stop (a three-minute walk away)
Pioneer Building
The Pioneer Building offers a business address in downtown Brooklyn. It’s a great virtual office in NYC for startups and tech businesses, which thrive in the area.
Downtown Brooklyn is also a hot spot for city and state government headquarters, utility businesses, and higher education businesses.
Highlights include:
● 24-hour surveillance monitoring
● Bicycle storage
● Outside seating area/terrace
Information about Pioneer Building
● Location: 41 Flatbush Avenue, New York City, NY, 11217
● Starting costs: Business addresses from $129 per month
● Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
● Nearby stations: Nevins Street subway station (a one-minute walk away), Livingston Street/Nevins Street bus stop (a two-minute walk away), DeKalb Avenue subway station (a four-minute walk away)
Establish a business presence with a Regus Virtual Office in New York
As a leading provider of virtual office packages, Regus can offer your business an array of virtual office solutions.
We can provide everything from a business address for mail forwarding, or a complete virtual office package. This will equip your company with mail forwarding, call handling, and access to Regus’ global business lounge network, as well as a network of workspaces as and when you need them.
For those looking to get the most flexibility from their virtual office, consider our Virtual Office Plus package. This offers everything from our regular virtual office, alongside meeting room access and five days of office space access each month.
