The typical asking rate per listing is in the $40's per square foot per year. The The Waterfront region is seeing a a rise in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Jersey City market, the The Waterfront region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 11 listings have come on the market, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 64% of the listings in the The Waterfront 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.
Even though the median size is 34,170 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are approximately 14 stories. Most buildings in this area were built in 1992 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Wholesale trade is the dominant industry in this region. Most of the occupants of The Waterfront work from home. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.