Most listings are in the $80'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 $82 per sqft per year.
Compared to the rest of the New York City market, the Kips Bay submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 43 listings have been made available, so you'll want to check back regularly for new listings. About 105% of the office spaces in the Kips Bay 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.
The standard measurement for office space in this area is around 2,010 sqft. Most buildings in this market are approximately 8 stories. Most buildings in this area were built in 1920 and are Class A.
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 region. Commute by walking is the most popular way to get to work amongst Kips Bay residents. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.