Most listings are in the $30's per square foot per year. The Borough Park submarket is going through a decline in rates. In the last 3 months, the median rate fell $62 per sqft per year. That's a 65% decline in rent.
Compared to the rest of the New York City market, the Borough Park submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 8 listings have been posted online, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 3,000 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are approximately 3 stories. Most buildings in this region were built in 1931.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Borough Park occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.