On average, listings lease in the $90's per square foot per year. The Lenox Hill region is seeing a decline in rates. In the last 3 months, the median rate decreased $20 per sqft per year. That's a 17% decrease in rent.
Compared to the rest of the New York City market, the Lenox Hill region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 43 listings have come on the market, so you'll want to check back regularly for new listings. About 14% of the available space in the Lenox Hill 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.
The standard measurement for office space in this area is around 2,040 sqft. Most buildings in this market are close to 6 stories. Most buildings in this region were built in 1920 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Construction is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Lenox Hill occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.