On average, listings lease in the $110's per square foot per year. The Lenox Hill submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $24 per sqft per year. That's a 25% rise in rent.
Compared to the rest of the New York City market, the Lenox Hill region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 43 listings have been posted online, so you'll want to check back regularly for new listings. About 84% of the office spaces in the Lenox Hill 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.
The standard measurement for office space in this area is around 2,030 sqft. Most properties in this area are approximately 6 floors. 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 market. 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.