SoHo Office Space

SoHo

Office Space Market Report

Number of Listings (last 90 days)
159
Median Rate ($/sqft/yr)
$86
Median Size (sqft)
3,770
As of: July 22, 2017

SoHo Rates

The typical asking rate per listing is in the $80's per square foot per year. The SoHo region is going through a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 1% decline in rent.

Compared to the rest of the New York City market, the SoHo region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.

SoHo Listing Supply

In the last 90 days, 159 listings have come on the market, so you'll want to check back regularly for new listings. About 88% of the listings in the SoHo 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 on the market, so finding a space for a small business might be tough.

Even though the median size is 3,600 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 5 floors. Most buildings in this area were built in 1910 and are Class B.

SoHo Community

This market is fairly equally mixed residential and commercial. Utilities is the dominant industry in this market. Most of the folk of SoHo work from home. Commuting around 20 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 SoHo.
Market Report

Market Data

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