Most listings are in the $60's per square foot per year. The Murray Hill submarket is going through a decrease in rates. In the last 3 months, the median rate fell $28 per sqft per year. That's a 30% decrease in rent.
Compared to the rest of the New York City market, the Murray Hill region has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 27 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 11% of the office spaces in the Murray 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,900 sqft. Most buildings in this area are close to 6 stories. Most buildings in this area were built in 1920 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Murray Hill folk. Commuting around an hour a day is the norm for those who opt to reside in this part of town.