On average, listings lease in the $30's per square foot per year. The Central Brooklyn region is going through a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 5% decline in rent.
Compared to the rest of the New York City market, the Central Brooklyn submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 440 listings have been listed, so you'll want to check back regularly for new listings. About 5% of the available space in the Central Brooklyn are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,600 sqft. Most properties in this region are around 3 floors. Most buildings in this market were built in 1931 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. Most of the folk of Central Brooklyn work from home. Commuting close to 15 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 Central Brooklyn.
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