On average, listings lease in the $80's per square foot per year. The Flatiron District submarket is going through a a boost in rates. In the last 3 months, the median rate increased $7 per sqft per year. That's a 9% rise in rent.
Compared to the rest of the New York City market, the Flatiron District submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 93 listings have been made available, so you'll want to check back regularly for new listings. About 82% of the available leases in the Flatiron District 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 3,290 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are around 9 floors. Most buildings in this area were built in 1910 and are Class B.
Real estate is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Flatiron District occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.