Most listings are in the $70's per square foot per year. The Midtown Manhattan region is seeing a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the New York City market, the Midtown Manhattan submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 1007 listings have been made available, so you'll want to check back regularly for new listings. About 18% of the available space in the Midtown Manhattan 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.
Even though the median size is 3,450 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are around 12 floors. Most buildings in this market were built in 1922 and are Class A.
This market is fairly equally mixed residential and commercial. Manufacturing is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Midtown Manhattan residents. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.