On average, listings lease in the $10's per square foot per year. The East Village submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 33% decline in rent.
In the last 90 days, 12 listings have been listed, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 17,400 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 3 floors. Most buildings in this region were built in 1983 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Education is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst East Village occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.