Most listings are in the $60's per square foot per year. The Garment District region is seeing a an increase in rates. In the last 3 months, the median rate went up $4 per sqft per year. That's a 7% rise in rent.
Compared to the rest of the New York City market, the Garment District submarket has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 3548 listings have come on the market, so you'll want to check back regularly for new listings. About 7% of the available leases in the Garment District are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,400 sqft. Most properties in this area are close to 14 floors. Most buildings in this region were built in 1924 and are Class B.
Finance and insurance are the dominant industries in this region. Commute by taxi is the most popular way to get to work amongst Garment District occupants. Commuting between 20 and 25 minutes 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 Garment District.
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