Upper Manhattan Industrial

Upper Manhattan

Office Space Market Report

Number of Listings (last 90 days)
141
Median Rate ($/sqft/yr)
$97
Median Size (sqft)
2,500
As of: January 22, 2017

Upper Manhattan Rates

Most listings are in the $90's per square foot per year. The Upper Manhattan submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $9 per sqft per year. That's a 11% rise in rent.

Compared to the rest of the New York City market, the Upper Manhattan region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Upper Manhattan Listing Supply

In the last 90 days, 139 listings have been listed, so you'll want to check back regularly for new listings. About 4% of the office spaces in the Upper Manhattan are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,500 sqft. Most buildings in this area are approximately 5 stories. Most buildings in this market were built in 1920 and are Class A.

Upper Manhattan Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Upper Manhattan folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Upper Manhattan.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Upper Manhattan.
Research