On average, listings lease in the $80's per square foot per year. The Flatiron District region is experiencing a decrease in rates. In the last 3 months, the median rate fell $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 submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 74 listings have been listed, so you'll want to check back regularly for new listings. About 19% of the available leases in the Flatiron District 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 3,290 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are close to 8 stories. Most buildings in this area were built in 1910 and are Class B.
This market is fairly equally mixed residential and commercial. Real estate is the dominant industry in this market. 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.