Most listings are in the $80's per square foot per year. The Turtle Bay submarket is seeing a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the New York City market, the Turtle Bay region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 63 listings have come on the market, so you'll want to check back regularly for new listings. About 17% of the available leases in the Turtle Bay 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 available, so finding a space for a small business might be tough.
Even though the median size is 4,220 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are approximately 20 floors. Most buildings in this area were built in 1951 and are Class A.
This market is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Turtle Bay residents. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.