SoHo Office Space

SoHo

Office Space Market Report

Number of Listings (last 90 days)
159
Median Rate ($/sqft/yr)
$88
Median Size (sqft)
3,150
As of: March 11, 2017

SoHo Rates

The typical asking rate per listing is in the $80's per square foot per year. The SoHo submarket is going through a a boost in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 3% rise in rent.

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

SoHo Listing Supply

In the last 90 days, 159 listings have been listed, so you'll want to check back regularly for new listings. About 9% of the available leases in the SoHo are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 3,150 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are approximately 5 stories. Most buildings in this market 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 area. Most of the residents of SoHo work from home. Commuting close to 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