On average, listings lease in the $40's per square foot per year. The The Waterfront submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Jersey City market, the The Waterfront region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 20 listings have been made available, which means listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 210% of the listings in the The Waterfront 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 posted, so finding a space for a small business might be tough.
Even though the median size is 5,000 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are close to 14 floors. Most buildings in this market were built in 1992 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Wholesale trade is the dominant industry in this area. Most of the occupants of The Waterfront work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.