On average, listings lease in the $80's per square foot per year. The West Village region is seeing a decrease in rates. In the last 3 months, the median rate decreased $150 per sqft per year. That's a 63% decline in rent.
Compared to the rest of the New York City market, the West Village 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, 445 listings have been made available, so you'll want to check back regularly for new listings. About 8% of the office spaces in the West Village 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.
Even though the median size is 4,090 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are approximately 4 stories. Most buildings in this area were built in 1910 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this market. Commute by car is the most popular way to get to work amongst West Village residents. Commuting approximately 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 West Village.
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