Most listings are in the $60's per square foot per year. The Kips Bay region is seeing a a rise in rates. In the last 3 months, the median rate rose $62 per sqft per year.
Compared to the rest of the New York City market, the Kips Bay region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 29 listings have been listed, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 21% of the available space in the Kips Bay 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 3,710 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are close to 9 stories. Most buildings in this market were built in 1920 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Kips Bay folk. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.