Most listings are in the $80's per square foot per year. The Midtown East region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the New York City market, the Midtown East submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 439 listings have been listed, so you'll want to check back regularly for new listings. About 24% of the available space in the Midtown East 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.
Even though the median size is 5,000 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are close to 17 floors. Most buildings in this area were built in 1930 and are Class A.
Manufacturing is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Midtown East residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.