On average, listings lease in the $10's per square foot per year. The Downtown Paterson region is going through a a rise in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 5% rise in rent.
In the last 90 days, 19 listings have been posted online, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 1,890 sqft. Most buildings in this market are approximately 7 floors. Most buildings in this market were built in 1904 and are Class A.
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 market. Commute by walking is the most popular way to get to work amongst Downtown Paterson occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.