Most listings are in the $80's per square foot per year. The SoHo region is going through a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the New York City market, the SoHo region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 159 listings have been listed, so you'll want to check back regularly for new listings. About 85% of the office spaces in the SoHo are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 3,600 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are close to 5 floors. Most buildings in this market were built in 1910 and are Class B.
This market is fairly equally mixed residential and commercial. Utilities is the dominant industry in this market. Most of the occupants of SoHo work from home. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.