Most listings are in the $70's per square foot per year. The Downtown Manhattan submarket is going through a an increase 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 Downtown Manhattan submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 734 listings have been made available, so you'll want to check back regularly for new listings. About 10% of the available leases in the Downtown Manhattan are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 3,890 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 6 stories. Most buildings in this region were built in 1913 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Manhattan residents. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.