On average, listings lease in the $50's per square foot per year. The DUMBO submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the New York City market, the DUMBO submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 68 listings have been posted online, so you'll want to check back regularly for new listings. About 1% of the office spaces in the DUMBO are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,890 sqft. Most properties in this region are approximately 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 folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.