Most listings are in the $60's per square foot per year. The Theater District submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the New York City market, the Theater District submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 148 listings have been made available, so you'll want to check back regularly for new listings. About 19% of the available space in the Theater District 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 posted, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 23 floors. Most buildings in this region were built in 1930 and are Class A.
Arts, entertainment, and restaurants are the dominant industries in this market. Most of the occupants of Theater District work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.