The typical asking rate per listing is in the $80's per square foot per year. The SoHo submarket is going through a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the New York City market, the SoHo region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 120 listings have been listed, so you'll want to check back regularly for new listings. About 12% of the available space in the SoHo 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.
Even though the median size is 5,960 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 5 floors. Most buildings in this market were built in 1910 and are Class B.
This area is fairly equally mixed residential and commercial. Utilities is the dominant industry in this region. Most of the residents of SoHo work from home. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.