The typical asking rate per listing is in the $70's per square foot per year. The Tribeca submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the New York City market, the Tribeca submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 28 listings have come on the market, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 14% of the available leases in the Tribeca 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,750 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 6 floors. Most buildings in this region were built in 1915 and are Class A.
This market is fairly equally mixed residential and commercial. Education is the dominant industry in this area. Most of the occupants of Tribeca work from home. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.