On average, listings lease in the $70's per square foot per year. The Meatpacking District region is seeing a a boost in rates. In the last 3 months, the median rate rose $73 per sqft per year.
Compared to the rest of the New York City market, the Meatpacking District submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 7 listings have been listed, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,580 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 4 floors. Most buildings in this area were built in 1910 and are Class A.
Professional services is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Meatpacking District residents. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.