On average, listings lease in the $110's per square foot per year. The Lenox Hill submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $119 per sqft per year.
Compared to the rest of the New York City market, the Lenox Hill submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 43 listings have been listed, so you'll want to check back regularly for new listings. About 114% of the available leases in the Lenox Hill are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 5,410 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 6 floors. Most buildings in this region were built in 1920 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Construction is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Lenox Hill residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.