The typical asking rate per listing is in the $50's per square foot per year. The Sutton Place region is going through a a boost in rates. In the last 3 months, the median rate went up $59 per sqft per year.
Compared to the rest of the New York City market, the Sutton Place region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 3 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 3,770 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are close to 5 floors. Most buildings in this region were built in 1920 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Most of the residents of Sutton Place work from home. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.