The typical asking rate per listing is in the $70's per square foot per year. The Downtown Flushing submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $13 per sqft per year. That's a 14% decline 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, 4 listings have been listed, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 1,830 sqft. Most properties in this market are close to 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 region. Commute by motorcycle is the most popular way to get to work amongst Downtown Flushing residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.