Murray Hill Industrial

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Murray Hill

Market Report

Number of Listings
Posted in the last 90 days
20
Median Rate ($/sqft/yr)
$86
Median Size (sqft)
2,140

Murray Hill Rates

Most listings are in the $80's per square foot per year. The Murray Hill region is going through a decline in rates. In the last 3 months, the median rate fell $9 per sqft per year. That's a 10% decline in rent.

Compared to the rest of the New York City market, the Murray Hill region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Murray Hill Listing Supply

In the last 90 days, 508 listings have been posted online, so you'll want to check back regularly for new listings. About 14% of the office spaces in the Murray Hill are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,140 sqft. Most buildings in this region are close to 6 stories. Most buildings in this market were built in 1920 and are Class A.

Murray Hill 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 area. Commute by car is the most popular way to get to work amongst Murray Hill folk. Commuting close to an hour 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 Murray Hill.
Research