On average, listings lease in the $50's per square foot per year. The Sutton Place submarket is going through a an increase in rates. In the last 3 months, the median rate went up $59 per sqft per year.
Compared to the rest of the New York City market, the Sutton Place submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 4 listings have been posted online, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 8,250 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 5 floors. Most buildings in this region were built in 1920 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Most of the occupants of Sutton Place work from home. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.