On average, listings lease in the $60's per square foot per year. The Alphabet City submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 1% decrease in rent.
Compared to the rest of the New York City market, the Alphabet City submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 0 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About NaN% of the available leases in the Alphabet City are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most properties in this market are around 5 floors. Most buildings in this market were built in 1904 and are Class B.
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 public transit is the most popular way to get to work amongst Alphabet City occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.