The typical asking rate per listing is in the $140's per square foot per year. The Upper West Side submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $39 per sqft per year. That's a 36% increase in rent.
Compared to the rest of the New York City market, the Upper West Side region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 37 listings have been listed, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 5% of the available leases in the Upper West Side are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 600 sqft. Most buildings in this region are around 5 floors. Most buildings in this area were built in 1920 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Most of the occupants of Upper West Side work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.