The typical asking rate per listing is in the $30's per square foot per year. The South Brooklyn region is going through a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 7% decrease in rent.
Compared to the rest of the New York City market, the South Brooklyn region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 723 listings have come on the market, so you'll want to check back regularly for new listings. About 6% of the available leases in the South 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.
Even though the median size is 4,420 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 3 floors. Most buildings in this area were built in 1931 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Most of the occupants of South Brooklyn work from home. Commuting between 20 and 25 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 South Brooklyn.
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