Most listings are in the $70's per square foot per year. The Midtown Manhattan submarket is going through a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the New York City market, the Midtown Manhattan region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 21803 listings have come on the market, so you'll want to check back regularly for new listings. About 6% of the listings in the Midtown Manhattan are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,450 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are around 12 stories. Most buildings in this area were built in 1920 and are Class A.
Manufacturing is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Midtown Manhattan folk. Commuting close to 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 Midtown Manhattan.
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