Most listings are in the $70's per square foot per year. The Downtown Manhattan submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the New York City market, the Downtown Manhattan submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 740 listings have been posted online, so you'll want to check back regularly for new listings. About 10% of the office spaces in the Downtown 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,890 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are close to 6 floors. Most buildings in this area were built in 1913 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Real estate is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown Manhattan occupants. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.