On average, listings lease in the $40's per square foot per year. The Midtown submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 23% increase in rent.
In the last 90 days, 14 listings have been made available, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 14% of the office spaces in the Midtown are subleases, so you might be able to find a shorter term or below market rent. 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 5,000 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 4 stories. Most buildings in this region were built in 1981 and are Class A.
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 area. Commute by bike is the most popular way to get to work amongst Midtown residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.