Most listings are in the $90's per square foot per year. The Murray Hill submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $36 per sqft per year. That's a 56% rise in rent.
Compared to the rest of the New York City market, the Murray Hill submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 56 listings have been posted online, so you'll want to check back regularly for new listings. About 4% of the available leases in the Murray Hill are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 3,100 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are approximately 6 stories. Most buildings in this region 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 market. Commute by car is the most popular way to get to work amongst Murray Hill folk. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.