Most listings are in the $100's per square foot per year. The Union Square submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $21 per sqft per year. That's a 24% increase in rent.
Compared to the rest of the New York City market, the Union Square region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 433 listings have been made available, so you'll want to check back regularly for new listings. About 6% of the available space in the Union Square 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 available, 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 market are around 9 floors. Most buildings in this region were built in 1908 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Company management is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Union Square folk. Commuting more than an hour and a half 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 Union Square.
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