On average, listings lease in the $80's per square foot per year. The Yorkville region is seeing a decline in rates. In the last 3 months, the median rate decreased $12 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the New York City market, the Yorkville region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 9 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 11% of the available space in the Yorkville 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,170 sqft. Most properties in this region are approximately 5 stories. Most buildings in this market were built in 1925 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Yorkville occupants. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.