The typical asking rate per listing is in the $230's per square foot per year. The Meatpacking District submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $165 per sqft per year. That's a 227% rise in rent.
Compared to the rest of the New York City market, the Meatpacking District region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 7 listings have been posted online, which means office spaces are probably going fast. You'll want to be prepared to make an offer immediately. 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 13,770 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 4 floors. Most buildings in this region were built in 1910 and are Class A.
Professional services is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Meatpacking District occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.