Most listings are in the $80's per square foot per year. The Murray Hill submarket is going through a an increase in rates. In the last 3 months, the median rate went up $18 per sqft per year. That's a 26% rise in rent.
Compared to the rest of the New York City market, the Murray Hill region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 70 listings have been posted online, so you'll want to check back regularly for new listings. About 74% of the available leases in the Murray Hill are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,600 sqft. Most buildings in this region are close to 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 area. Commute by car is the most popular way to get to work amongst Murray Hill folk. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.