Most listings are in the $80's per square foot per year. The Murray Hill submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $0 per sqft per year. That's a 0% rise in rent.
Compared to the rest of the New York City market, the Murray Hill submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 70 listings have been made available, so you'll want to check back regularly for new listings. About 66% of the available space in the Murray Hill 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.
The standard measurement for office space in this area is around 1,970 sqft. Most properties in this area are approximately 6 floors. Most buildings in this area 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. Utilities is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Murray Hill residents. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.