Most listings are in the $70's per square foot per year. The Kips Bay region is seeing a decline in rates. In the last 3 months, the median rate fell $54 per sqft per year. That's a 40% decrease in rent.
Compared to the rest of the New York City market, the Kips Bay submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 479 listings have been listed, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Kips Bay 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,840 sqft. Most buildings in this area are approximately 8 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. Manufacturing is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Kips Bay occupants. Commuting approximately 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 Kips Bay.
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