The typical asking rate per listing is in the $70's per square foot per year. The Midtown Manhattan region is experiencing a a rise in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 11% rise in rent.
Compared to the rest of the New York City market, the Midtown Manhattan submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 2356 listings have been made available, so you'll want to check back regularly for new listings. About 81% of the available leases 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.
The standard measurement for office space in this area is around 2,500 sqft. Most properties in this area are around 12 stories. Most buildings in this area were built in 1920 and are Class A.
Manufacturing is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Midtown Manhattan occupants. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.