The typical asking rate per listing is in the $0's per square foot per year. The SoNo submarket is going through a decline in rates. In the last 3 months, the median rate decreased $29 per sqft per year. That's a 100% decrease in rent.
In the last 90 days, 11 listings have been made available, which means new listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 5,440 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are around 14 floors. Most buildings in this market were built in 1974 and are Class B.
This market is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this market. Most of the residents of SoNo work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.