On average, listings lease in the $80's per square foot per year. The Yorkville submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $12 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the New York City market, the Yorkville submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 9 listings have come on the market, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 11% of the available leases in the Yorkville 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,170 sqft. Most buildings in this market are close to 5 stories. Most buildings in this market were built in 1925 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Yorkville occupants. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.