On average, listings lease in the $60's per square foot per year. The Tribeca region is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the New York City market, the Tribeca submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 100 listings have been posted online, so you'll want to check back regularly for new listings. About 57% of the office spaces in the Tribeca 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 2,260 sqft. Most properties in this region are close to 6 stories. Most buildings in this market were built in 1915 and are Class A.
This region is fairly equally mixed residential and commercial. Education is the dominant industry in this area. Most of the residents of Tribeca work from home. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.