On average, listings lease in the $80's per square foot per year. The Bowery region is seeing a an increase in rates. In the last 3 months, the median rate went up $85 per sqft per year.
Compared to the rest of the New York City market, the Bowery region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 11 listings have been listed, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 9% of the available leases in the Bowery are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 leases below 2,000 sqft. Most buildings in this region are around 5 floors. Most buildings in this market were built in 1910 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Most of the folk of Bowery work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.