On average, listings lease in the $80's per square foot per year. The NoHo submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the New York City market, the NoHo submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 19 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 11% of the office spaces in the NoHo 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 3,000 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are approximately 7 floors. Most buildings in this region were built in 1908 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst NoHo residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.