On average, listings lease in the $70's per square foot per year. The Yorkville submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $52 per sqft per year. That's a 40% decline in rent.
Compared to the rest of the New York City market, the Yorkville submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 4 listings have come on the market, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 3,750 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 5 floors. Most buildings in this area were built in 1925 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Yorkville occupants. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.