Midtown Manhattan Sublease

544 W 27th St Space
Chelsea, New York City, NY
Tower 45 Unit 2801 (Floor 28)
Theater District, New York City, NY
115 E 23rd St Unit 501 (Floor 5)
Kips Bay, New York City, NY

Midtown Manhattan

Office Space Market Report

Number of Listings (last 90 days)
2,356
Median Rate ($/sqft/yr)
$81
Median Size (sqft)
2,500
As of: July 19, 2017

Midtown Manhattan Rates

The typical asking rate per listing is in the $70's per square foot per year. The Midtown Manhattan region is experiencing a a rise in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 11% rise in rent.

Compared to the rest of the New York City market, the Midtown Manhattan submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.

Midtown Manhattan Listing Supply

In the last 90 days, 2356 listings have been made available, so you'll want to check back regularly for new listings. About 81% of the available leases in the Midtown Manhattan 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.

The standard measurement for office space in this area is around 2,500 sqft. Most properties in this area are around 12 stories. Most buildings in this area were built in 1920 and are Class A.

Midtown Manhattan Community

Manufacturing is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Midtown Manhattan occupants. Commuting approximately 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 Midtown Manhattan.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Midtown Manhattan.
Research