On average, listings lease in the $80's per square foot per year. The Flatiron District submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $6 per sqft per year. That's a 8% increase in rent.
Compared to the rest of the New York City market, the Flatiron District submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 93 listings have come on the market, so you'll want to check back regularly for new listings. About 68% of the available leases in the Flatiron District are subleases, so you might be able to snag a great spot on a short term. 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 3,540 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are approximately 9 stories. Most buildings in this market were built in 1910 and are Class B.
Real estate is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Flatiron District residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.