The typical asking rate per listing is in the $70's per square foot per year. The Hell's Kitchen region is going through a a rise in rates. In the last 3 months, the median rate rose $13 per sqft per year. That's a 22% rise in rent.
Compared to the rest of the New York City market, the Hell's Kitchen submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 452 listings have been made available, so you'll want to check back regularly for new listings. About 4% of the office spaces in the Hell's Kitchen are subleases, so you will probably have to consider a longer term lease. 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 3,300 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are close to 6 stories. Most buildings in this area 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 market. 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.
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