Most listings are in the $80's per square foot per year. The Theater District region is going through a an increase in rates. In the last 3 months, the median rate went up $23 per sqft per year. That's a 36% increase in rent.
Compared to the rest of the New York City market, the Theater District submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 224 listings have been listed, so you'll want to check back regularly for new listings. About 19% of the available leases in the Theater District are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 5,280 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 23 stories. Most buildings in this region were built in 1930 and are Class A.
Arts, entertainment, and restaurants are the dominant industries in this area. Most of the folk of Theater District work from home. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.