On average, listings lease in the $10's per square foot per year. The New Dorp submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $6 per sqft per year. That's a 29% decline in rent.
Compared to the rest of the New York City market, the New Dorp region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 21 listings have been listed, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 5% of the listings in the New Dorp are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, 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 region are approximately 2 stories. Most buildings in this area were built in 1964 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst New Dorp 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 New Dorp.
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