Downtown Manhattan Office Space

American Express Building Unit 1101 (Floor 11)
Financial District, New York City, NY
362 Broadway 4 Spaces
Civic Center, New York City, NY
80 5th Ave Unit 1818 (Floor Penthouse)
Greenwich Village, New York City, NY

Downtown Manhattan

Office Space Market Report

Number of Listings (last 90 days)
784
Median Rate ($/sqft/yr)
$69
Median Size (sqft)
3,000
As of: June 23, 2017

Downtown Manhattan Rates

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.

Downtown Manhattan Listing Supply

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.

Downtown Manhattan Community

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.

Market Report

Trends and status of the commercial real estate market in Downtown Manhattan.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Downtown Manhattan.
Research