The typical asking rate per listing is in the $80's per square foot per year. The Lenox Hill region is going through a decline in rates. In the last 3 months, the median rate decreased $26 per sqft per year. That's a 23% decline in rent.
Compared to the rest of the New York City market, the Lenox Hill submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 43 listings have been listed, so you'll want to check back regularly for new listings. About 16% of the available space in the Lenox Hill 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.
The standard measurement for office space in this area is around 2,040 sqft. Most buildings in this market are close to 6 stories. Most buildings in this region were built in 1920 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Construction is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Lenox Hill occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.