The typical asking rate per listing is in the $80's per square foot per year. The SoHo region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 5% decline in rent.
Compared to the rest of the New York City market, the SoHo region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 109 listings have been posted online, so you'll want to check back regularly for new listings. About 12% of the available space in the SoHo 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 4,700 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are close to 5 floors. Most buildings in this area were built in 1910 and are Class B.
This area is fairly equally mixed residential and commercial. Utilities is the dominant industry in this area. Most of the folk of SoHo work from home. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.