On average, listings lease in the $60's per square foot per year. The DUMBO region is seeing a a boost in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 1% rise in rent.
Compared to the rest of the New York City market, the DUMBO submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 99 listings have been listed, so you'll want to check back regularly for new listings. About 46% of the available space in the DUMBO are subleases, so you might be able to snag a great spot on a short term. 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 2,750 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are close to 11 floors. Most buildings in this market were built in 1925 and are Class C.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst DUMBO occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.