Morrisania Office Space

Morrisania

Office Space Market Report

Number of Listings (last 90 days)
3
Median Rate ($/sqft/yr)
$24
Median Size (sqft)
15,000
As of: August 19, 2017

Morrisania Rates

On average, listings lease in the $20's per square foot per year. The Morrisania region is going through a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 18% decrease in rent.

Compared to the rest of the New York City market, the Morrisania submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated region.

Morrisania Listing Supply

In the last 90 days, 3 listings have come on the market, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the listings in the Morrisania 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.

Even though the median size is 15,000 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this market were built in 2015 and are Class B.

Morrisania Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Most of the occupants of Morrisania work from home. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Morrisania.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Morrisania.
Research