The typical asking rate per listing is in the $80's per square foot per year. The NoMad submarket is going through a a rise in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 7% increase in rent.
Compared to the rest of the New York City market, the NoMad region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 259 listings have been made available, so you'll want to check back regularly for new listings. About 42% of the available leases in the NoMad 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.
The standard measurement for office space in this area is around 2,000 sqft. Most buildings in this area are approximately 12 stories. Most buildings in this market were built in 1914 and are Class B.
Public administration is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst NoMad residents. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.