Most listings are in the $70's per square foot per year. The Murray Hill submarket is going through a a rise in rates. In the last 3 months, the median rate went up $9 per sqft per year. That's a 13% increase in rent.
Compared to the rest of the New York City market, the Murray Hill region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 508 listings have been listed, so you'll want to check back regularly for new listings. About 13% of the available space in the Murray Hill are subleases, so you might be able to sign a shorter term by taking over a previous 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 3,200 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are approximately 6 stories. Most buildings in this region 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. Utilities is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Murray Hill residents. Commuting around 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 Murray Hill.
Get email notifications when new listings are posted that match your requirements.