On average, listings lease in the $50's per square foot per year. The East Williamsburg submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $20 per sqft per year. That's a 51% increase in rent.
Compared to the rest of the New York City market, the East Williamsburg submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 405 listings have been posted online, so you'll want to check back regularly for new listings. About 20% of the available space in the East Williamsburg 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 740 sqft. Most properties in this market are close to 3 floors. Most buildings in this area were built in 1931 and are Class C.
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 region. Commute by taxi is the most popular way to get to work amongst East Williamsburg occupants. Commuting between 30 and 45 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 East Williamsburg.
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