The typical asking rate per listing is in the $80's per square foot per year. The Downtown Flushing submarket is going through a a boost in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the New York City market, the Downtown Flushing submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 140 listings have come on the market, so you'll want to check back regularly for new listings. About 6% of the available leases in the Downtown Flushing are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 2,000 sqft. Most properties in this area are around 3 floors. Most buildings in this market were built in 2002 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Downtown Flushing folk. 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 Downtown Flushing.
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