On average, listings lease in the $10's per square foot per year. The Downtown Paterson submarket is going through a an increase in rates. In the last 3 months, the median rate went up $20 per sqft per year.
In the last 90 days, 19 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,890 sqft. Most buildings in this area are around 7 stories. Most buildings in this market were built in 1904 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Paterson residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.