The typical asking rate per listing is in the $70's per square foot per year. The Tribeca submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the New York City market, the Tribeca submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 85 listings have been made available, so you'll want to check back regularly for new listings. About 13% of the listings in the Tribeca 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.
The standard measurement for office space in this area is around 2,340 sqft. Most buildings in this market are approximately 6 stories. Most buildings in this region were built in 1915 and are Class A.
This area is fairly equally mixed residential and commercial. Education is the dominant industry in this area. Most of the occupants of Tribeca work from home. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.