The typical asking rate per listing is in the $50's per square foot per year. The DUMBO submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the New York City market, the DUMBO submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 58 listings have been posted online, so you'll want to check back regularly for new listings. About 2% of the listings in the DUMBO 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 2,250 sqft. Most properties in this region are close to 10 stories. Most buildings in this market were built in 1925 and are Class C.
A large portion of this region is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst DUMBO occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.