Midtown Manhattan Retail

Midtown Manhattan

Office Space Market Report

Number of Listings (last 90 days)
2,356
Median Rate ($/sqft/yr)
$73
Median Size (sqft)
3,000
As of: May 21, 2017

Midtown Manhattan Rates

Most listings are in the $70's per square foot per year. The Midtown Manhattan region is going through a a rise in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 4% increase in rent.

Compared to the rest of the New York City market, the Midtown Manhattan region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Midtown Manhattan Listing Supply

In the last 90 days, 2356 listings have been listed, so you'll want to check back regularly for new listings. About 13% of the available leases 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 available, so finding a space for a small business might be tough.

Even though the median size is 3,000 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 12 floors. Most buildings in this area were built in 1920 and are Class A.

Midtown Manhattan Community

This region is fairly equally mixed residential and commercial. Manufacturing is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Midtown Manhattan folk. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Midtown Manhattan.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Midtown Manhattan.
Research