Most listings are in the $60's per square foot per year. The Theater District region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $12 per sqft per year. That's a 15% decline in rent.
Compared to the rest of the New York City market, the Theater District region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 224 listings have been made available, so you'll want to check back regularly for new listings. About 64% of the listings in the Theater District 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,120 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are close to 23 floors. Most buildings in this market were built in 1930 and are Class A.
Arts, entertainment, and restaurants are the dominant industries in this area. Most of the residents of Theater District work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.