Garment District Sublease

Garment District

Office Space Market Report

Number of Listings (last 90 days)
367
Median Rate ($/sqft/yr)
$59
Median Size (sqft)
2,500
As of: December 10, 2016

Garment District Rates

The typical asking rate per listing is in the $50's per square foot per year. The Garment District submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.

Compared to the rest of the New York City market, the Garment District region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.

Garment District Listing Supply

In the last 90 days, 365 listings have come on the market, so you'll want to check back regularly for new listings. About 13% of the available space in the Garment 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.

The standard measurement for office space in this area is around 2,500 sqft. Most properties in this market are around 14 stories. Most buildings in this market were built in 1924 and are Class B.

Garment District Community

Finance and insurance are the dominant industries in this region. Commute by taxi is the most popular way to get to work amongst Garment District folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Garment District.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Garment District.
Research