The typical asking rate per listing is in the $80's per square foot per year. The NoMad submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 7% increase in rent.
Compared to the rest of the New York City market, the NoMad region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 259 listings have been posted online, so you'll want to check back regularly for new listings. About 39% of the available space in the NoMad 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 2,400 sqft. Most buildings in this market are around 12 floors. Most buildings in this region were built in 1914 and are Class B.
Public administration is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst NoMad folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.