The typical asking rate per listing is in the $70's per square foot per year. The East Harlem submarket is going through a decrease in rates. In the last 3 months, the median rate fell $73 per sqft per year. That's a 50% decline in rent.
Compared to the rest of the New York City market, the East Harlem region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 12 listings have been made available, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 50% of the available leases in the East Harlem 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 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 2,400 sqft. Most buildings in this area are approximately 5 floors. Most buildings in this region were built in 1920 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst East Harlem folk. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.