Midtown Manhattan Commercial Real Estate

383 5th Ave - Space NoMad, New York City, NY  
Oct 19
5,400
sqft
Sublease Office
200 W 57th St - Space Theater District, New York City, NY  
Oct 16
3,500
sqft
Sublease Office Medical
57 W 57th St - Space Midtown East, New York City, NY  
Oct 16
1,900
sqft
Sublease Office Medical

Midtown Manhattan

Market Report

Number of Listings
Posted in the last 90 days
914
Median Rate ($/sqft/yr)
$79
Median Size (sqft)
3,450

Midtown Manhattan Rates

On average, listings lease in the $70's per square foot per year. The Midtown Manhattan region is experiencing a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 6% decline in rent.

Compared to the rest of the New York City market, the Midtown Manhattan region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.

Midtown Manhattan Listing Supply

In the last 90 days, 21803 listings have been listed, so you'll want to check back regularly for new listings. About 6% of the office spaces 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 3,500 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are around 12 floors. Most buildings in this market were built in 1920 and are Class A.

Midtown Manhattan Community

Manufacturing is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Midtown Manhattan occupants. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.

Market Data

Real time and historical data on commercial real estate listings in Midtown Manhattan.
Research