On average, listings lease in the $70's per square foot per year. The NoMad submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $0 per sqft per year. That's a 0% increase in rent.
Compared to the rest of the New York City market, the NoMad submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 259 listings have come on the market, so you'll want to check back regularly for new listings. About 14% of the listings in the NoMad 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 2,180 sqft. Most properties in this area are around 12 floors. Most buildings in this area 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.