Kips Bay Retail

Kips Bay

Office Space Market Report

Number of Listings (last 90 days)
43
Median Rate ($/sqft/yr)
$71
Median Size (sqft)
3,710
As of: March 12, 2017

Kips Bay Rates

The typical asking rate per listing is in the $70's per square foot per year. The Kips Bay region is seeing a a rise in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 4% rise in rent.

Compared to the rest of the New York City market, the Kips Bay region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.

Kips Bay Listing Supply

In the last 90 days, 43 listings have been listed, so you'll want to check back regularly for new listings. About 12% of the office spaces in the Kips Bay 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.

Even though the median size is 3,710 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 9 floors. Most buildings in this region were built in 1920 and are Class A.

Kips Bay Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Kips Bay folk. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Kips Bay.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Kips Bay.
Research