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

Midtown Manhattan

Office Space Market Report

Number of Listings (last 90 days)
21,803
Median Rate ($/sqft/yr)
$79
Median Size (sqft)
2,800
As of: August 17, 2017

Midtown Manhattan Rates

Most listings are in the $70's per square foot per year. The Midtown Manhattan region is going through a a boost in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 3% increase in rent.

Compared to the rest of the New York City market, the Midtown Manhattan submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.

Midtown Manhattan Listing Supply

In the last 90 days, 2356 listings have been posted online, so you'll want to check back regularly for new listings. About 64% 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 posted, so finding a space for a small business might be tough.

Even though the median size is 2,850 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are around 12 stories. Most buildings in this region were built in 1920 and are Class A.

Midtown Manhattan Community

Manufacturing is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Midtown Manhattan residents. Commuting around 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