On average, listings lease in the $110's per square foot per year. The Upper East Side submarket is seeing a a boost in rates. In the last 3 months, the median rate rose $15 per sqft per year. That's a 15% increase in rent.
Compared to the rest of the New York City market, the Upper East Side region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 80 listings have been listed, so you'll want to check back regularly for new listings. About 5% of the listings in the Upper East Side are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,720 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are approximately 5 floors. Most buildings in this region 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 area. Most of the occupants 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.