The typical asking rate per listing is in the $80's per square foot per year. The Turtle Bay submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the New York City market, the Turtle Bay submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 64 listings have been listed, so you'll want to check back regularly for new listings. About 33% of the available space in the Turtle Bay 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.
Even though the median size is 5,030 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are approximately 21 floors. Most buildings in this market were built in 1951 and are Class A.
This market is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Turtle Bay residents. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.