On average, listings lease in the $50's per square foot per year. The Washington Heights submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 9% increase in rent.
Compared to the rest of the New York City market, the Washington Heights region has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 6 listings have been posted online, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 17% of the listings in the Washington Heights are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 2,000 sqft. Most properties in this region are around 5 stories. Most buildings in this region were built in 1922 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Washington Heights occupants. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.