On average, listings lease in the $70's per square foot per year. The Tribeca submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the New York City market, the Tribeca region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 34 listings have been listed, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 12% of the available leases in the Tribeca are subleases, so you might be able to snag a great spot on a short term. 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 2,780 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are approximately 6 floors. Most buildings in this market were built in 1915 and are Class A.
This area is fairly equally mixed residential and commercial. Education is the dominant industry in this market. Most of the residents of Tribeca work from home. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.