The typical asking rate per listing is in the $50'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 $19 per sqft per year. That's a 26% decrease in rent.
Compared to the rest of the New York City market, the Flatbush submarket 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 been listed, so you'll want to check back regularly for new listings. About 4% of the available space 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.
The standard measurement for office space in this area is around 1,200 sqft. Most buildings in this area are approximately 3 floors. Most buildings in this market 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. Wholesale trade is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Flatbush occupants. 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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