Most listings are in the $90's per square foot per year. The Upper Manhattan submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $9 per sqft per year. That's a 11% increase in rent.
Compared to the rest of the New York City market, the Upper Manhattan region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 138 listings have been listed, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Upper Manhattan are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most buildings in this area are close to 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 occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.