The typical asking rate per listing is in the $60's per square foot per year. The Financial District submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the New York City market, the Financial District region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 367 listings have been posted online, so you'll want to check back regularly for new listings. About 65% of the available space in the Financial District 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 leases below 2,000 sqft. Most buildings in this area are approximately 21 stories. Most buildings in this area were built in 1928 and are Class A.
Information is the dominant industry in this market. Most of the residents of Financial District work from home. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.