The typical asking rate per listing is in the $90's per square foot per year. The Midtown East region is seeing a an increase in rates. In the last 3 months, the median rate went up $13 per sqft per year. That's a 15% increase in rent.
Compared to the rest of the New York City market, the Midtown East region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 673 listings have been made available, so you'll want to check back regularly for new listings. About 84% of the listings in the Midtown East are subleases, so you might be able to snag a great spot on a short term. 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 3,190 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are approximately 18 stories. Most buildings in this region were built in 1931 and are Class A.
Manufacturing is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Midtown East residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.