The typical asking rate per listing is in the $20's per square foot per year. The Mott Haven region is experiencing a decline in rates. In the last 3 months, the median rate fell $15 per sqft per year. That's a 34% decline in rent.
Compared to the rest of the New York City market, the Mott Haven submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 19 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 900 sqft. Most buildings in this area are approximately 4 floors. Most buildings in this region 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. Construction is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Mott Haven folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.