Compared to the rest of the New York City market, the Hell's Kitchen submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 27 listings have come on the market, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 22% 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 5,000 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are close to 6 stories. Most buildings in this region were built in 1928 and are Class A.
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 region. 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.