The typical asking rate per listing is in the $70's per square foot per year. The Downtown Manhattan submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the New York City market, the Downtown Manhattan region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 784 listings have been listed, so you'll want to check back regularly for new listings. About 10% of the office spaces in the Downtown Manhattan 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 3,980 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are close to 6 floors. Most buildings in this region 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 folk. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.