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Commonly Asked Questions about Business Rentals

Leasing and renting are similar and sometimes used interchangeably, but there are some subtle differences between the two, like the length of tenancy. A lease is generally a long-term agreement while a rental agreement can be on a month-to-month basis.
Direct office space in Manhattan costs an average of $82 per sq ft each year. Class A space is more expensive, costing an average of around $91 per square foot per year. Class B space costs a relatively affordable $62 per square foot per year.
Based on publicly available commercial real estate leasing data, the average asking rent for New York office space is around $80 per square foot, and units in Class A buildings are a little under $90 per square foot.
Average asking rent in Manhattans retail corridors was $638 per sq. ft. up 3.7% from the prior quarter and the third consecutive quarterly increase. The taking rent index for the prime 16 retail corridors was 75.5%, up 310 bps from the prior quarter and 1160 bps from 63.9% in Q1 2022.
A Price range for retail space in NYC is about $30 to $50 per square foot.
Office Rental Space New York City | Lease Data and Trends Based on publicly available commercial real estate leasing data, the average asking rent for New York office space is around $80 per square foot, and units in Class A buildings are a little under $90 per square foot.
Direct office space in Manhattan costs an average of $82 per sq ft each year. Class A space is more expensive, costing an average of around $91 per square foot per year.
The average rental cost for a small retail space is $1,000 per month. A Price range for retail space in NYC is about $30 to $50 per square foot.