Kips Bay Sublease

Kips Bay

Office Space Market Report

Number of Listings (last 90 days)
42
Median Rate ($/sqft/yr)
$69
Median Size (sqft)
3,710
As of: January 19, 2017

Kips Bay Rates

On average, listings lease in the $70's per square foot per year. The Kips Bay submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $10 per sqft per year. That's a 16% rise in rent.

Compared to the rest of the New York City market, the Kips Bay region has more expensive rates, and you'll need to pay a premium to be in this hot region.

Kips Bay Listing Supply

In the last 90 days, 38 listings have been posted online, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 16% of the available leases in the Kips Bay are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 office spaces below 2,000 sqft. Most buildings in this area are around 9 floors. Most buildings in this area were built in 1920 and are Class B.

Kips Bay Community

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 area. Commute by walking is the most popular way to get to work amongst Kips Bay occupants. Commuting close to 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 Kips Bay.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Kips Bay.
Research