On average, listings lease in the $70's per square foot per year. The Greenwich Village submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $22 per sqft per year. That's a 24% decrease in rent.
Compared to the rest of the New York City market, the Greenwich Village 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, 15 listings have been made available, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 7% of the office spaces in the Greenwich Village are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 3,000 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 6 floors. Most buildings in this market were built in 1906 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Greenwich Village occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.