NoLita Office Space

NoLita

Office Space Market Report

Number of Listings (last 90 days)
4
Median Rate ($/sqft/yr)
$330
Median Size (sqft)
3,500
As of: February 21, 2017

NoLita Rates

Most listings are in the $330's per square foot per year. The NoLita region is seeing a a boost in rates. In the last 3 months, the median rate went up $265 per sqft per year. That's a 405% increase in rent.

Compared to the rest of the New York City market, the NoLita submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.

NoLita Listing Supply

In the last 90 days, 4 listings have been made available, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 25% of the office spaces in the NoLita are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

Even though the median size is 3,500 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are around 5 floors. Most buildings in this area were built in 1900 and are Class A.

NoLita Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst NoLita residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in NoLita.
Market Report

Market Data

Real time and historical data on commercial real estate listings in NoLita.
Research