Most listings are in the $60's per square foot per year. The Downtown Manhattan region is going through a decrease in rates. In the last 3 months, the median rate decreased $6 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the New York City market, the Downtown Manhattan region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 303 listings have been listed, so you'll want to check back regularly for new listings. About 13% of the office spaces 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 3,440 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are around 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 occupants. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.