Most listings are in the $80's per square foot per year. The Theater District submarket is seeing a a boost in rates. In the last 3 months, the median rate rose $8 per sqft per year. That's a 10% rise in rent.
Compared to the rest of the New York City market, the Theater District submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 224 listings have been posted online, so you'll want to check back regularly for new listings. About 62% of the available leases in the Theater District 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 posted, so finding a space for a small business might be tough.
Even though the median size is 4,950 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are approximately 23 stories. Most buildings in this market were built in 1930 and are Class A.
Arts, entertainment, and restaurants are the dominant industries in this market. Most of the folk of Theater District work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.