The typical asking rate per listing is in the $60's per square foot per year. The Financial District submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the New York City market, the Financial District submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 367 listings have come on the market, so you'll want to check back regularly for new listings. About 7% of the available leases in the Financial District are subleases, so you will probably have to focus your search on direct office leases. 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 4,190 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are close to 22 floors. Most buildings in this area were built in 1928 and are Class A.
Information is the dominant industry in this market. Most of the occupants of Financial District work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.