The typical asking rate per listing is in the $30's per square foot per year. The Borough Park submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $40 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the New York City market, the Borough Park submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 4 listings have come on the market, which means office spaces might be 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.
Even though the median size is 2,750 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are around 3 floors. Most buildings in this region were built in 1931.
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 taxi is the most popular way to get to work amongst Borough Park occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.