The typical asking rate per listing is in the $50's per square foot per year. The Long Island City region is going through a an increase in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 5% rise in rent.
Compared to the rest of the New York City market, the Long Island City region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 624 listings have been made available, so you'll want to check back regularly for new listings. About 11% of the available leases in the Long Island City are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 2,500 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this market were built in 1931 and are Class B.
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 folk. 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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