Garment District Industrial

Garment District

Office Space Market Report

Number of Listings (last 90 days)
414
Median Rate ($/sqft/yr)
$59
Median Size (sqft)
2,270
As of: January 19, 2017

Garment District Rates

Most listings are in the $50's per square foot per year. The Garment District submarket is going through a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 3% decrease in rent.

Compared to the rest of the New York City market, the Garment District region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.

Garment District Listing Supply

In the last 90 days, 392 listings have been posted online, so you'll want to check back regularly for new listings. About 12% of the available space 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 on the market, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,250 sqft. Most buildings in this area are close to 14 floors. Most buildings in this area were built in 1924 and are Class B.

Garment District Community

Finance and insurance are the dominant industries in this area. Commute by taxi is the most popular way to get to work amongst Garment District residents. Commuting between 20 and 25 minutes 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 Garment District.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Garment District.
Research