The typical asking rate per listing is in the $80's per square foot per year. The Flatiron District submarket is going through a a rise in rates. In the last 3 months, the median rate increased $5 per sqft per year. That's a 7% rise in rent.
Compared to the rest of the New York City market, the Flatiron District region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 55 listings have been posted online, so you'll want to check back regularly for new listings. About 18% of the available leases in the Flatiron District are subleases, so you might be able to find a shorter term or below market rent. 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 4,200 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 9 stories. Most buildings in this market were built in 1910 and are Class B.
This market is fairly equally mixed residential and commercial. Real estate is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Flatiron District folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.