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Most commerial real estate listings for lease are in the $130's per square foot per year. The Upper Manhattan region is going through a a rise in rates. In the last 3 months, the median rate for lease increased $3 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the New York City commercial real estate market, the Upper Manhattan submarket has greater rates for rent, and you may need to pay a premium to be in this hot submarket.
In the last 90 days, 1885 commercial real estate listings have come on the market, so you'll want to check back regularly for new listings. About 0% of the available commercial real estate space in the Upper Manhattan are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 510 sqft. Most buildings in this market are close to 5 floors. Most buildings in this market were built approximately 1920 and are Class .
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 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 Upper Manhattan.
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