Most listings are in the $180's per square foot per year. The Meatpacking District submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $53 per sqft per year. That's a 22% decrease in rent.
Compared to the rest of the New York City market, the Meatpacking District region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 7 listings have been made available, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 114% of the available leases in the Meatpacking District 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 12,630 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are approximately 4 floors. Most buildings in this region were built in 1910 and are Class A.
Professional services is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Meatpacking District folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.