The typical asking rate per listing is in the $230's per square foot per year. The Meatpacking District region is seeing a a boost in rates. In the last 3 months, the median rate rose $165 per sqft per year. That's a 227% increase in rent.
Compared to the rest of the New York City market, the Meatpacking District region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 7 listings have been made available, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. 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 13,770 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are close to 4 stories. Most buildings in this region were built in 1910 and are Class A.
Professional services is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Meatpacking District folk. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.