On average, listings lease in the $30's per square foot per year. The Bowery region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $41 per sqft per year. That's a 51% decrease in rent.
Compared to the rest of the New York City market, the Bowery region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 6 listings have been listed, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 17% of the listings in the Bowery are subleases, so you might be able to find a shorter term or below market rent. 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 1,800 sqft. Most buildings in this region are around 5 stories. Most buildings in this market were built in 1910 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Most of the residents of Bowery work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.