The typical asking rate per listing is in the $110's per square foot per year. The Lenox Hill submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 6% 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 been listed, so you'll want to check back regularly for new listings. About 72% of the office spaces 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,700 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are approximately 6 floors. Most buildings in this market were built in 1920 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Construction is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Lenox Hill residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.