The typical asking rate per listing is in the $80's per square foot per year. The Upper Manhattan region is experiencing a a rise in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the New York City market, the Upper Manhattan submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 142 listings have been posted online, so you'll want to check back regularly for new listings. About 4% of the available leases in the Upper Manhattan are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 3,969 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are around 5 stories. Most buildings in this area were built in 1920 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Upper Manhattan folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.