Most listings are in the $100's per square foot per year. The Lower East Side region is going through a decrease in rates. In the last 3 months, the median rate fell $25 per sqft per year. That's a 19% decline in rent.
Compared to the rest of the New York City market, the Lower East Side region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 2 listings have come on the market, which means leases might be going fast. You'll want to be prepared to make an offer immediately. 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 1,700 sqft. Most properties in this region are approximately 5 stories. Most buildings in this market were built in 1920.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Most of the folk of Lower East Side work from home. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.