Hell's Kitchen Sublease

Hell's Kitchen

Office Space Market Report

Number of Listings (last 90 days)
452
Median Rate ($/sqft/yr)
$73
Median Size (sqft)
1,300
As of: August 17, 2017

Hell's Kitchen Rates

The typical asking rate per listing is in the $70's per square foot per year. The Hell's Kitchen region is going through a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 1% rise in rent.

Compared to the rest of the New York City market, the Hell's Kitchen region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.

Hell's Kitchen Listing Supply

In the last 90 days, 40 listings have been made available, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 75% of the available leases in the Hell's Kitchen 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 posted, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 1,300 sqft. Most buildings in this region are approximately 6 floors. Most buildings in this region were built in 1928 and are Class A.

Hell's Kitchen Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Hell's Kitchen folk. Commuting more than an hour and a half 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 Hell's Kitchen.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Hell's Kitchen.
Research