Compared to the rest of the New York City market, the NoLita submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 6 listings have come on the market, which means listings might be going fast. You'll want to be prepared to make an offer immediately. About 17% of the available leases in the NoLita are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,500 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are approximately 5 floors. Most buildings in this market were built in 1900 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst NoLita occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.