Upper Manhattan Industrial

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Upper Manhattan

Market Report

Number of Listings
Posted in the last 90 days
7
Median Rate ($/sqft/yr)
$127
Median Size (sqft)
1,810

Upper Manhattan Rates

The typical asking rate per listing is in the $90's per square foot per year. The Upper Manhattan region is seeing a decline in rates. In the last 3 months, the median rate decreased $34 per sqft per year. That's a 27% decline in rent.

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

Upper Manhattan Listing Supply

In the last 90 days, 1885 listings have been listed, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Upper Manhattan 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 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 2,000 sqft. Most buildings in this area are around 5 floors. Most buildings in this region were built in 1920 and are Class A.

Upper Manhattan Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Upper Manhattan occupants. Commuting between 30 and 45 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 Upper Manhattan.
Research