On average, listings lease in the $60's per square foot per year. The Washington Heights submarket is going through a a boost in rates. In the last 3 months, the median rate rose $63 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the New York City market, the Washington Heights submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 6 listings have been made available, which means spaces are probably 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 posted, so finding a space for a small business might be tough.
Even though the median size is 5,700 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 5 floors. Most buildings in this region were built in 1922 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Washington Heights residents. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.