Upper Manhattan Commercial Real Estate

500 E 62nd St - Space Upper East Side, New York City, NY  
Sep 18
3,000
sqft
Retail Restaurant
466 Amsterdam Ave - 2 Spaces Upper West Side, New York City, NY  
Aug 29
1,050 - 1,200
sqft
Retail Restaurant

Upper Manhattan

Market Report

Number of Listings
Posted in the last 90 days
165
Median Rate ($/sqft/yr)
$118
Median Size (sqft)
2,090

Upper Manhattan Rates

Most listings are in the $120's per square foot per year. The Upper Manhattan submarket is going through a an increase in rates. In the last 3 months, the median rate went up $32 per sqft per year. That's a 35% increase in rent.

Compared to the rest of the New York City market, the Upper Manhattan submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.

Upper Manhattan Listing Supply

In the last 90 days, 1885 listings have been listed, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Upper Manhattan 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 on the market, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,500 sqft. Most buildings in this area are around 5 stories. Most buildings in this market were built in 1920 and are Class A.

Upper Manhattan Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Upper Manhattan residents. Commuting between 30 and 45 minutes 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 Upper Manhattan.
Research