The typical asking rate per listing is in the $80's per square foot per year. The NoMad submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 5% decline in rent.
Compared to the rest of the New York City market, the NoMad region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 1690 listings have been posted online, so you'll want to check back regularly for new listings. About 6% of the listings in the NoMad are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 12 stories. Most buildings in this market were built in 1914 and are Class B.
Public administration is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst NoMad folk. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in NoMad.
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