On average, listings lease in the $70's per square foot per year. The Flatiron District region is experiencing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the New York City market, the Flatiron District region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 93 listings have been made available, so you'll want to check back regularly for new listings. About 23% of the available leases in the Flatiron District 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 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 buildings in this market are around 9 stories. Most buildings in this area were built in 1910 and are Class B.
Real estate is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Flatiron District residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.