On average, listings lease in the $20's per square foot per year. The South Bronx region is seeing a decline in rates. In the last 3 months, the median rate fell $12 per sqft per year. That's a 31% decrease in rent.
Compared to the rest of the New York City market, the South Bronx region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 22 listings have been listed, which means office 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 900 sqft. Most properties in this market are close to 4 stories. Most buildings in this region were built in 1931 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. Most of the residents of South Bronx work from home. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.