On average, listings lease in the $90's per square foot per year. The Upper West Side region is experiencing a decline in rates. In the last 3 months, the median rate fell $17 per sqft per year. That's a 16% decline in rent.
Compared to the rest of the New York City market, the Upper West Side submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 293 listings have been made available, so you'll want to check back regularly for new listings. About 5% of the listings in the Upper West Side 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 available, so finding a space for a small business might be tough.
Even though the median size is 4,650 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 5 floors. Most buildings in this area were built in 1920 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Most of the occupants of Upper West Side work from home. Commuting close to 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 Upper West Side.
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