Most listings are in the $70's per square foot per year. The Downtown Manhattan submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 1% increase in rent.
Compared to the rest of the New York City market, the Downtown Manhattan submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 474 listings have come on the market, so you'll want to check back regularly for new listings. About 15% of the listings in the Downtown Manhattan are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 6 floors. Most buildings in this region were built in 1913 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Real estate is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown Manhattan residents. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.