The typical asking rate per listing is in the $70's per square foot per year. The Hudson Square submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the New York City market, the Hudson Square submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 19 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 11% of the listings in the Hudson Square are subleases, so you might be able to find a shorter term or below market rent. 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 4,020 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 10 floors. Most buildings in this market were built in 1924 and are Class A.
Health care is the dominant industry in this region. Most of the residents of Hudson Square work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.