Most listings are in the $40's per square foot per year. The Long Island City submarket is going through a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 8% decrease in rent.
Compared to the rest of the New York City market, the Long Island City region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 624 listings have come on the market, so you'll want to check back regularly for new listings. About 8% of the office spaces in the Long Island City are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 7,270 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are around 2 floors. 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. Agriculture is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Long Island City residents. Commuting more than an hour and a half 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 Long Island City.
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