The typical asking rate per listing is in the $50's per square foot per year. The Downtown Brooklyn submarket is going through a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the New York City market, the Downtown Brooklyn region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 29 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 66% of the available space in the Downtown Brooklyn are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,500 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are close to 5 floors. Most buildings in this region were built in 1950 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Health care is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Brooklyn occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.