On average, listings lease in the $40's per square foot per year. The Crown Heights submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 8% decrease in rent.
Compared to the rest of the New York City market, the Crown Heights submarket has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 20 listings have been posted online, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 55% of the available space in the Crown Heights 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 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 1,340 sqft. Most properties in this region are close to 3 stories. Most buildings in this area were built in 1928 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 Crown Heights residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.