Most listings are in the $60's per square foot per year. The Downtown Manhattan submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $69 per sqft per year.
Compared to the rest of the New York City market, the Downtown Manhattan submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 784 listings have been made available, so you'll want to check back regularly for new listings. About 86% of the available space in the Downtown Manhattan are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 3,000 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 6 floors. Most buildings in this market were built in 1913 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Manhattan residents. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.