On average, listings lease in the $50's per square foot per year. The The Waterfront region is going through a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 7% decline in rent.
Compared to the rest of the Jersey City market, the The Waterfront submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 20 listings have come on the market, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 45% of the available leases 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 available, so finding a space for a small business might be tough.
Even though the median size is 46,190 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 14 stories. 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 market. Most of the occupants of The Waterfront work from home. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.