On average, listings lease in the $70's per square foot per year. The Meatpacking District submarket is going through a a rise 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 region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 7 listings have been made available, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 3,200 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are around 4 stories. Most buildings in this market were built in 1910 and are Class A.
Professional services is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Meatpacking District occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.