SoHo Retail


Office Space Market Report

Number of Listings (last 90 days)
Median Rate ($/sqft/yr)
Median Size (sqft)
As of: October 20, 2016

SoHo Rates

Most listings are in the $80's per square foot per year. The SoHo submarket is going through a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 1% decline in rent.

Compared to the rest of the New York City market, the SoHo submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.

SoHo Listing Supply

In the last 90 days, 75 listings have come on the market, so you'll want to check back regularly for new listings. About 11% of the available leases in the SoHo are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,300 sqft. Most properties in this market are around 5 floors. Most buildings in this area were built in 1910 and are Class B.

SoHo Community

This area is fairly equally mixed residential and commercial. Utilities is the dominant industry in this region. Most of the occupants 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.