The typical asking rate per listing is in the $10's per square foot per year. The South Bronx region is going through a decrease in rates. In the last 3 months, the median rate fell $19 per sqft per year. That's a 49% decrease in rent.
Compared to the rest of the New York City market, the South Bronx region has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 8 listings have been posted online, which means office spaces might be leasing quickly. 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 5,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 4 floors. Most buildings in this region 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. Public administration is the dominant industry in this region. Most of the occupants of South Bronx work from home. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.