On average, listings lease in the $50's per square foot per year. The Fort Greene region is seeing a decrease in rates. In the last 3 months, the median rate decreased $17 per sqft per year. That's a 22% decline in rent.
Compared to the rest of the New York City market, the Fort Greene region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 33 listings have been posted online, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. About 9% of the listings in the Fort Greene are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,410 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 6 floors. Most buildings in this market were built in 1969 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Most of the residents of Fort Greene work from home. Commuting around an hour and a half 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 Fort Greene.
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