Frankfurt ($60/sqft, 8.4% vacancy) and New York ($102/sqft, 17.4% vacancy) compete on different axes: Frankfurt on rent and tax and New York on talent depth.
Frankfurt ($60/sqft, 8.4% vacancy) and New York ($102/sqft, 17.4% vacancy) compete on different axes: Frankfurt on rent and tax and New York on talent depth.
| Metric | Frankfurt | New York |
|---|---|---|
| Region | EMEA | Americas |
| Country | Germany | United States |
| Class A rent (USD/sqft/yr) | $60 | $102 |
| Class A rent (local) | 55 EUR | 102 USD |
| Vacancy | 8.4% | 17.4% |
| Trend | flat | rising |
| Prime yield | 4.4% | 5.6% |
| Premium flex / seat / month (USD) | $1,080 | $1,450 |
| Submarkets covered | 6 | 7 |
| Corporate tax | 30% | 27.5% |
| Metric | Frankfurt | New York |
|---|---|---|
| Typical term | 7 yrs | 10 yrs |
| Typical rent-free | 9 mos | 14 mos |
| Lease norms | German leases run 5-10 years with break rights. Rent reviews are indexed to the CPI (Verbraucherpreisindex). Tenant pays Nebenkosten (operating costs) on top of base rent. Cautio (security deposit) of 3-6 months is typical. | 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 fit-out-capex">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. |
| Tax note | Combined federal + state + Gewerbesteuer (trade tax) effectively 30% in Frankfurt. | Combined federal + New York State + NYC corporate income tax effectively reaches 27.5% for most C-corps. New York City Commercial Rent Tax (CRT) applies to Manhattan tenants south of 96th Street paying base rents above $250,000. |
| Metric | Frankfurt | New York |
|---|---|---|
| Talent index (0–100) | 88 | 100 |
| Talent note | Deepest banking-and-regulatory talent pool in continental Europe. Average all-in compensation indexes 88. | 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). |
Frankfurt: Hauptbahnhof anchors S-Bahn, U-Bahn, ICE, and regional rail. Frankfurt Airport is 11 minutes by ICE.
New York: MTA subway lines, Metro-North, LIRR, and PATH converge on Midtown and the Financial District, anchored by Grand Central, Penn Station, and the Oculus. Class A landlords now factor commute time as part of their leasing pitch.
Frankfurt is the cheaper Class A market on a USD basis.
New York has the deeper talent index (100/100 vs 88/100).
New York has the lower headline corporate tax (27.5% vs 30%). Local incentives can change the effective rate materially.
Frankfurt typical term is 7 years with 9 months free; New York runs 10 years with 14 months free.
Frankfurt: Hauptbahnhof anchors S-Bahn, U-Bahn, ICE, and regional rail. Frankfurt Airport is 11 minutes by ICE. New York: MTA subway lines, Metro-North, LIRR, and PATH converge on Midtown and the Financial District, anchored by Grand Central, Penn Station, and the Oculus. Class A landlords now factor commute time as part of their leasing pitch.
Score Frankfurt, New York and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.