Most listings are in the $90's per square foot per year. The Midtown East submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $95 per sqft per year.
Compared to the rest of the New York City market, the Midtown East region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 673 listings have been listed, so you'll want to check back regularly for new listings. About 91% of the listings in the Midtown East 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 3,650 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 18 floors. Most buildings in this market were built in 1931 and are Class A.
Manufacturing is the dominant industry in this region. 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.