Most listings are in the $60's per square foot per year. The Civic Center submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 4% rise in rent.
Compared to the rest of the New York City market, the Civic Center region has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 21 listings have been posted online, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 57% of the available leases in the Civic Center are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are approximately 5 stories. Most buildings in this market were built in 1915 and are Class A.
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 area. 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.