On average, listings lease in the $90's per square foot per year. The Upper East Side region is going through a decline in rates. In the last 3 months, the median rate fell $12 per sqft per year. That's a 11% decline in rent.
Compared to the rest of the New York City market, the Upper East Side submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 53 listings have been made available, so you'll want to check back regularly for new listings. About 9% of the office spaces in the Upper East Side are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,372 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are close to 5 floors. Most buildings in this market were built in 1920 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Most of the residents of Upper East Side work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.