Most listings are in the $70's per square foot per year. The Hell's Kitchen submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the New York City market, the Hell's Kitchen region has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 452 listings have been posted online, so you'll want to check back regularly for new listings. About 6% of the office spaces in the Hell's Kitchen 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,050 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are approximately 5 floors. Most buildings in this region were built in 1928 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Hell's Kitchen occupants. Commuting more than an hour and a half 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 Hell's Kitchen.
Get email notifications when new listings are posted that match your requirements.