New York ($102/sqft, 17.4% vacancy) and Paris ($102/sqft, 7.6% vacancy) compete on different axes: New York on talent depth and Paris on rent and tax.
New York ($102/sqft, 17.4% vacancy) and Paris ($102/sqft, 7.6% vacancy) compete on different axes: New York on talent depth and Paris on rent and tax.
| Metric | New York | Paris |
|---|---|---|
| Region | Americas | EMEA |
| Country | United States | France |
| Class A rent (USD/sqft/yr) | $102 | $102 |
| Class A rent (local) | 102 USD | 95 EUR |
| Vacancy | 17.4% | 7.6% |
| Trend | rising | rising |
| Prime yield | 5.6% | 4% |
| Premium flex / seat / month (USD) | $1,450 | $1,180 |
| Submarkets covered | 7 | 6 |
| Corporate tax | 27.5% | 25% |
| Metric | New York | Paris |
|---|---|---|
| Typical term | 10 yrs | 9 yrs |
| Typical rent-free | 14 mos | 18 mos |
| Lease norms | 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. | The bail commercial is the standard lease — 9 years with tenant break rights at year 3 and year 6. Rent is indexed annually to the ILAT or ICC indices. Rent-free of 12-24 months on a 9-year term is standard. Service charges and tax foncière are typically passed through. Restoration to original is the default obligation. |
| Tax note | 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. | Headline corporate tax 25%. Local cotisation foncière des entreprises (CFE) and contribution sur la valeur ajoutée des entreprises (CVAE) add a meaningful local layer. Île-de-France tertiary tax (TSB) applies to office occupiers. |
| Metric | New York | Paris |
|---|---|---|
| Talent index (0–100) | 100 | 90 |
| Talent note | 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). | Strong financial-services and luxury-brand talent pool. Average all-in compensation indexes 90 vs. New York's 100. |
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.
Paris: RER A and the Métro span the entire QCA. The Grand Paris Express network is materially reshaping Greater Paris commute economics through 2030.
New York and Paris are roughly cost-equivalent in USD/sqft.
New York has the deeper talent index (100/100 vs 90/100).
Paris has the lower headline corporate tax (25% vs 27.5%). Local incentives can change the effective rate materially.
New York typical term is 10 years with 14 months free; Paris runs 9 years with 18 months free.
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. Paris: RER A and the Métro span the entire QCA. The Grand Paris Express network is materially reshaping Greater Paris commute economics through 2030.
Score New York, Paris 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 Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.