East Harlem Industrial

East Harlem

Office Space Market Report

Number of Listings (last 90 days)
12
Median Rate ($/sqft/yr)
$74
Median Size (sqft)
2,400
As of: August 20, 2017

East Harlem Rates

The typical asking rate per listing is in the $70's per square foot per year. The East Harlem region is seeing a decrease in rates. In the last 3 months, the median rate fell $73 per sqft per year. That's a 50% decrease in rent.

Compared to the rest of the New York City market, the East Harlem region has greater rates, and you'll need to make a great offer to be in this hot submarket.

East Harlem Listing Supply

In the last 90 days, 12 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 58% of the office spaces in the East Harlem 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.

The standard measurement for office space in this area is around 2,400 sqft. Most properties in this area are approximately 5 stories. Most buildings in this region were built in 1920 and are Class A.

East Harlem Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst East Harlem residents. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in East Harlem.
Market Report

Market Data

Real time and historical data on commercial real estate listings in East Harlem.
Research