On average, listings lease in the $110's per square foot per year. The Rockefeller Center submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $18 per sqft per year. That's a 14% decrease in rent.
Compared to the rest of the New York City market, the Rockefeller Center submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 7 listings have been listed, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 43% of the available space in the Rockefeller Center 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.
The standard measurement for office space in this area is around 2,010 sqft. Most properties in this area are close to 25 stories. Most buildings in this area were built in 1935 and are Class A.
Public administration is the dominant industry in this market. Most of the occupants of Rockefeller Center work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.