On average, listings lease in the $40's per square foot per year. The Bedford-Stuyvesant submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $20 per sqft per year. That's a 32% decline in rent.
Compared to the rest of the New York City market, the Bedford-Stuyvesant submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 11 listings have been made available, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are around 3 stories. Most buildings in this region 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. Wholesale trade is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Bedford-Stuyvesant occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.