Harlem Industrial

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Harlem

Market Report

Number of Listings
Posted in the last 90 days
36
Median Rate ($/sqft/yr)
$74
Median Size (sqft)
2,500

Harlem Rates

On average, listings lease in the $70's per square foot per year. The Harlem submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $28 per sqft per year. That's a 27% decline in rent.

Compared to the rest of the New York City market, the Harlem submarket has higher rates, and you'll need to make a great offer to be in this hot region.

Harlem Listing Supply

In the last 90 days, 549 listings have come on the market, so you'll want to check back regularly for new listings. About 1% of the office spaces in the Harlem are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,500 sqft. Most properties in this region are close to 5 floors. Most buildings in this region were built in 1920 and are Class A.

Harlem Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Most of the residents of Harlem work from home. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.

Market Data

Real time and historical data on commercial real estate listings in Harlem.
Research