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The typical asking rate per commerial real estate listing leases is in the $80's per square foot per year. The SoHo submarket is going through a a rise in rates. In the last 3 months, the median rate for lease rose $15 per sqft per year. That's a 22% increase in rent.
Compared to the rest of the New York City commercial real estate market, the SoHo region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 1351 commercial real estate listings have come on the market, so you'll want to check back regularly for new listings. About 1% of the available commercial real estate leases in the SoHo are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard size for office space in this area is around 300 sqft. Most buildings in this area are close to 5 stories. Most buildings in this area were built around 1910 and are Class .
This area is fairly equally mixed residential and commercial. Utilities is the dominant industry in this region. Most of the occupants of SoHo work from home. 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 SoHo.
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