On average, listings lease in the $70's per square foot per year. The Downtown Manhattan region is experiencing a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the New York City market, the Downtown Manhattan region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 784 listings have been listed, so you'll want to check back regularly for new listings. About 10% of the office spaces 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 posted, so finding a space for a small business might be tough.
Even though the median size is 3,980 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are approximately 6 stories. Most buildings in this area 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 region. Commute by public transit is the most popular way to get to work amongst Downtown Manhattan folk. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.