On average, listings lease in the $30's per square foot per year. The East Bronx submarket is going through a decrease in rates. In the last 3 months, the median rate fell $50 per sqft per year. That's a 60% decrease in rent.
Compared to the rest of the New York City market, the East Bronx submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 14 listings have been listed, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. 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 2,500 sqft. Most properties in this area are close to 2 floors. Most buildings in this area were built in 1948 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Commute by car is the most popular way to get to work amongst East Bronx folk. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.