Most listings are in the $50's per square foot per year. The Downtown-Penn Quarter-Chinatown submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $16 per sqft per year. That's a 24% decrease in rent.
In the last 90 days, 40 listings have come on the market, which means listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the listings in the Downtown-Penn Quarter-Chinatown are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 16,940 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 12 stories. Most buildings in this market were built in 1986 and are Class A.
Utilities is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Downtown-Penn Quarter-Chinatown residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.