Most listings are in the $70's per square foot per year. The Midtown Manhattan submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $75 per sqft per year.
Compared to the rest of the New York City market, the Midtown Manhattan region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 2356 listings have come on the market, so you'll want to check back regularly for new listings. About 90% of the listings in the Midtown Manhattan 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 posted, so finding a space for a small business might be tough.
Even though the median size is 2,690 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 12 stories. Most buildings in this area were built in 1920 and are Class A.
Manufacturing is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Midtown Manhattan folk. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.