On average, listings lease in the $50's per square foot per year. The DUMBO region is going through a a rise in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 10% rise in rent.
Compared to the rest of the New York City market, the DUMBO region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 99 listings have been listed, so you'll want to check back regularly for new listings. About 2% of the available space in the DUMBO are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most properties in this region are close to 12 stories. Most buildings in this market were built in 1925 and are Class C.
A large portion of this region is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this market. 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.