On average, listings lease in the $80's per square foot per year. The SoHo submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $90 per sqft per year.
Compared to the rest of the New York City market, the SoHo submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 159 listings have been made available, so you'll want to check back regularly for new listings. About 96% of the listings 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 posted, so finding a space for a small business might be tough.
Even though the median size is 4,950 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are approximately 5 floors. Most buildings in this area were built in 1910 and are Class B.
This region is fairly equally mixed residential and commercial. Utilities is the dominant industry in this area. Most of the occupants of SoHo work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.