The typical asking rate per listing is in the $120's per square foot per year. The Upper Manhattan region is seeing a a rise in rates. In the last 3 months, the median rate went up $127 per sqft per year.
Compared to the rest of the New York City market, the Upper Manhattan region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 140 listings have been posted online, so you'll want to check back regularly for new listings. About 79% of the listings in the Upper Manhattan 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,030 sqft. Most buildings in this market are close to 5 floors. 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. Construction is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Upper Manhattan folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.