Compared to the rest of the New York City market, the Union Square region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 34 listings have been made available, which means leases might be going fast. You'll want to be prepared to make an offer immediately. About 18% of the office spaces in the Union Square are subleases, so you might be able to find a shorter term or below market rent. 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 3,000 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are close to 10 stories. Most buildings in this market were built in 1908 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Company management is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Union Square occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.