The typical asking rate per listing is in the $100's per square foot per year. The Midtown East submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 1% rise in rent.
Compared to the rest of the New York City market, the Midtown East submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 8446 listings have been made available, so you'll want to check back regularly for new listings. About 5% of the available space in the Midtown East are subleases, so you will probably have to consider a longer term 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 3,940 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are approximately 18 floors. Most buildings in this market were built in 1930 and are Class A.
Manufacturing is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Midtown East folk. Commuting between 30 and 45 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 Midtown East.
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