The typical asking rate per listing is in the $60's per square foot per year. The Kips Bay submarket is going through a a rise in rates. In the last 3 months, the median rate rose $7 per sqft per year. That's a 11% increase in rent.
Compared to the rest of the New York City market, the Kips Bay submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 41 listings have been made available, so you'll want to check back regularly for new listings. About 17% of the available leases in the Kips Bay 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 posted, so finding a space for a small business might be tough.
Even though the median size is 3,300 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are close to 9 stories. Most buildings in this region were built in 1920 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Kips Bay folk. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.