On average, listings lease in the $60's per square foot per year. The Greenpoint submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $32 per sqft per year. That's a 100% increase in rent.
Compared to the rest of the New York City market, the Greenpoint submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 13 listings have come on the market, which means leases 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 4,000 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are approximately 3 stories. Most buildings in this area 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. Waste services is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Greenpoint residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.