Most listings are in the $70's per square foot per year. The Hell's Kitchen region is seeing a a rise in rates. In the last 3 months, the median rate increased $73 per sqft per year.
Compared to the rest of the New York City market, the Hell's Kitchen submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 40 listings have been made available, which means listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 120% of the available space in the Hell's Kitchen 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.
The standard measurement for office space in this area is around 2,200 sqft. Most buildings in this market are around 5 stories. Most buildings in this area were built in 1928 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Hell's Kitchen occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.