Downtown Manhattan Retail

Downtown Manhattan

Office Space Market Report

Number of Listings (last 90 days)
446
Median Rate ($/sqft/yr)
$70
Median Size (sqft)
4,000
As of: December 2, 2016

Downtown Manhattan Rates

The typical asking rate per listing is in the $70's per square foot per year. The Downtown Manhattan region is experiencing a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 4% decrease in rent.

Compared to the rest of the New York City market, the Downtown Manhattan submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.

Downtown Manhattan Listing Supply

In the last 90 days, 437 listings have been listed, so you'll want to check back regularly for new listings. About 15% of the office spaces 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 on the market, so finding a space for a small business might be tough.

Even though the median size is 4,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are approximately 6 floors. Most buildings in this area were built in 1913 and are Class A.

Downtown Manhattan Community

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.

Market Report

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

Market Data

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