On average, listings lease in the $80's per square foot per year. The Flatiron District region is going through a decline in rates. In the last 3 months, the median rate decreased $0 per sqft per year. That's a 0% decline in rent.
Compared to the rest of the New York City market, the Flatiron District region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 95 listings have been listed, so you'll want to check back regularly for new listings. About 15% of the available space in the Flatiron District 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 2,790 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are close to 9 stories. Most buildings in this market were built in 1910 and are Class B.
This market is fairly equally mixed residential and commercial. Real estate is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Flatiron District folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.