On average, listings lease in the $270's per square foot per year. The West Village submarket is going through a an increase in rates. In the last 3 months, the median rate increased $277 per sqft per year.
Compared to the rest of the New York City market, the West Village submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 26 listings have come on the market, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 4% of the available leases in the West Village are subleases, so you will probably have to consider a longer term lease. 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 5,850 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are approximately 4 stories. Most buildings in this area were built in 1910 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this region. Commute by car is the most popular way to get to work amongst West Village occupants. Commuting around an hour a day is the norm for those who opt to reside in this part of town.