On average, listings lease in the $110's per square foot per year. The Turtle Bay region is going through a decline in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the New York City market, the Turtle Bay submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 1335 listings have come on the market, so you'll want to check back regularly for new listings. About 3% of the available leases in the Turtle Bay are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,060 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are approximately 21 floors. Most buildings in this market were built in 1951 and are Class A.
This market is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Turtle Bay folk. Commuting around 30 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 Turtle Bay.
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