On average, listings lease in the $30's per square foot per year. The Ridgewood region is seeing a decline in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 21% decrease in rent.
Compared to the rest of the New York City market, the Ridgewood region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 20 listings have come on the market, which means listings 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 2,950 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 2 stories. Most buildings in this market were built in 1954 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Ridgewood residents. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.