The typical asking rate per listing is in the $40's per square foot per year. The Williamsburg region is seeing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the New York City market, the Williamsburg submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 109 listings have come on the market, so you'll want to check back regularly for new listings. About 1% of the listings in the Williamsburg are subleases, so you will probably have to consider a longer term lease. 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 1,300 sqft. Most properties in this region are approximately 3 stories. Most buildings in this market were built in 1931 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Williamsburg residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.