The typical asking rate per listing is in the $40's per square foot per year. The East Williamsburg submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the New York City market, the East Williamsburg region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 70 listings have been made available, so you'll want to check back regularly for new listings. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,060 sqft. Most buildings in this area are around 3 stories. Most buildings in this area were built in 1931 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst East Williamsburg residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.