On average, listings lease in the $70's per square foot per year. The Hudson Square submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 10% decline in rent.
Compared to the rest of the New York City market, the Hudson Square submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 42 listings have been made available, so you'll want to check back regularly for new listings. About 5% of the available leases in the Hudson Square are subleases, so you will probably have to consider a longer term 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 11,240 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 10 stories. Most buildings in this market were built in 1924 and are Class A.
Health care is the dominant industry in this market. Most of the folk of Hudson Square work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.