On average, listings lease in the $90's per square foot per year. The Lenox Hill region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $20 per sqft per year. That's a 17% decrease in rent.
Compared to the rest of the New York City market, the Lenox Hill region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 38 listings have been listed, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 8% of the available space in the Lenox Hill are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,380 sqft. Most properties in this region are approximately 6 floors. Most buildings in this market were built in 1920 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Construction is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Lenox Hill folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.