The typical asking rate per listing is in the $50's per square foot per year. The Downtown Brooklyn submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 5% decline in rent.
Compared to the rest of the New York City market, the Downtown Brooklyn submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 31 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 5 floors. Most buildings in this market were built in 1948 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 residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.