On average, listings lease in the $60's per square foot per year. The Downtown Manhattan submarket is going through a a boost in rates. In the last 3 months, the median rate went up $69 per sqft per year.
Compared to the rest of the New York City market, the Downtown Manhattan region has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 784 listings have been posted online, so you'll want to check back regularly for new listings. About 83% of the available leases in the Downtown Manhattan are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 3,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 6 floors. Most buildings in this market were built in 1913 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Real estate is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Downtown Manhattan residents. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.