Most listings are in the $110's per square foot per year. The Lenox Hill region is experiencing a decline in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the New York City market, the Lenox Hill region has more expensive 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 63% of the available space in the Lenox Hill 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most buildings in this area are approximately 6 floors. Most buildings in this market were built in 1920 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Construction is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Lenox Hill residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.