On average, listings lease in the $80's per square foot per year. The Turtle Bay region is seeing a an increase in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the New York City market, the Turtle Bay submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 64 listings have come on the market, so you'll want to check back regularly for new listings. About 31% of the available space in the Turtle Bay 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,030 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are approximately 21 stories. Most buildings in this region were built in 1951 and are Class A.
This region is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by car is the most popular way to get to work amongst Turtle Bay occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.