On average, listings lease in the $40's per square foot per year. The East Williamsburg region is seeing a decline in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 18% decline in rent.
Compared to the rest of the New York City market, the East Williamsburg region has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 28 listings have been made available, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. 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 1,060 sqft. Most properties in this area are approximately 3 floors. Most buildings in this market were built in 1931 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst East Williamsburg residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.