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The typical asking rate per commerial real estate listing leases is in the $80's per square foot per year. The NoMad submarket is seeing a a boost in rates. In the last 3 months, the median rate for lease went up $2 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the New York City commercial real estate market, the NoMad region has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 1690 commercial real estate listings have been posted online, so you'll want to check back regularly for new listings. About 1% of the commercial real estate listings in the NoMad are subleases, so you will probably have to focus your search on direct leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard size for office space in this area is around 400 sqft. Most buildings in this region are close to 12 stories. Most buildings in this market were built approximately 1914 and are Class .
Public administration is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst NoMad occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in NoMad.
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