On average, listings lease in the $80's per square foot per year. The Sunset Park submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $44 per sqft per year. That's a 112% increase in rent.
Compared to the rest of the New York City market, the Sunset Park region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 19 listings have come on the market, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 5% of the available leases in the Sunset Park are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 16,020 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are around 3 stories. Most buildings in this market were built in 1931 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Sunset Park residents. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.