On average, listings lease in the $40's per square foot per year. The Flatbush region is going through a decline in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 17% decline in rent.
Compared to the rest of the New York City market, the Flatbush region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 137 listings have come on the market, so you'll want to check back regularly for new listings. About 6% of the listings in the Flatbush 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 5,500 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are around 3 floors. Most buildings in this market 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. Wholesale trade is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Flatbush residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Flatbush.
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