On average, listings lease in the $50's per square foot per year. The DUMBO submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $59 per sqft per year.
Compared to the rest of the New York City market, the DUMBO submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 99 listings have been made available, so you'll want to check back regularly for new listings. About 56% of the listings in the DUMBO are subleases, so you might be able to snag a great spot on a short term. 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 2,500 sqft. Most properties in this region are around 12 floors. Most buildings in this area were built in 1925 and are Class C.
A large portion of this area is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst DUMBO residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.