Compared to the rest of the New York City market, the Kips Bay region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 14 listings have been posted online, which means new listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 50% of the office spaces 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 2,910 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 8 floors. 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 area. Commute by walking is the most popular way to get to work amongst Kips Bay folk. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.