The typical asking rate per listing is in the $30's per square foot per year. The East Harlem region is seeing a a rise in rates. In the last 3 months, the median rate increased $12 per sqft per year. That's a 45% rise in rent.
Compared to the rest of the New York City market, the East Harlem submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 15 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 8,040 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are approximately 5 floors. Most buildings in this area 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 market. Commute by bike is the most popular way to get to work amongst East Harlem occupants. Commuting around an hour a day is the norm for those who opt to reside in this part of town.