On average, listings lease in the $40's per square foot per year. The Williamsburg region is seeing a decline in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 12% decline in rent.
Compared to the rest of the New York City market, the Williamsburg region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 109 listings have been posted online, so you'll want to check back regularly for new listings. About 1% of the available leases in the Williamsburg are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 1,300 sqft. Most buildings in this market are approximately 3 stories. Most buildings in this region were built in 1931 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Williamsburg folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.