On average, listings lease in the $90's per square foot per year. The West Village submarket is going through a decrease in rates. In the last 3 months, the median rate fell $185 per sqft per year. That's a 67% decrease in rent.
Compared to the rest of the New York City market, the West Village region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 25 listings have been made available, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,850 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are close to 4 floors. Most buildings in this market were built in 1910 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this region. Commute by car is the most popular way to get to work amongst West Village occupants. Commuting around an hour a day is the norm for those who opt to reside in this part of town.