Most listings are in the $50's per square foot per year. The Garment District region is going through a an increase in rates. In the last 3 months, the median rate increased $0 per sqft per year. That's a 1% increase in rent.
Compared to the rest of the New York City market, the Garment District submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 482 listings have come on the market, so you'll want to check back regularly for new listings. About 83% of the available leases in the Garment 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,900 sqft. Most buildings in this market are close to 14 floors. Most buildings in this region were built in 1924 and are Class B.
Finance and insurance are the dominant industries in this region. Commute by taxi is the most popular way to get to work amongst Garment District folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.