On average, listings lease in the $60's per square foot per year. The Financial District submarket is going through a an increase in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 7% increase in rent.
Compared to the rest of the New York City market, the Financial District region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 3492 listings have been posted online, so you'll want to check back regularly for new listings. About 6% of the available space in the Financial District 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 5,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 21 floors. Most buildings in this market were built in 1928 and are Class A.
Information is the dominant industry in this area. Most of the residents of Financial District work from home. Commuting close to an hour 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 Financial District.
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