On average, listings lease in the $70's per square foot per year. The West Village region is seeing a a rise in rates. In the last 3 months, the median rate increased $73 per sqft per year.
Compared to the rest of the New York City market, the West Village submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 28 listings have been posted online, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 4% of the listings in the West Village 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.
Even though the median size is 5,850 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 4 stories. Most buildings in this region 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 area. Commute by car is the most popular way to get to work amongst West Village residents. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.