The typical asking rate per listing is in the $70's per square foot per year. The Civic Center region is experiencing a a boost in rates. In the last 3 months, the median rate rose $73 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the New York City market, the Civic Center submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 2 listings have been listed, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the office spaces in the Civic Center are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,980 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 5 stories. Most buildings in this region were built in 1915 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Civic Center occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.