On average, listings lease in the $40's per square foot per year. The Kew Gardens region is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 1% decrease in rent.
Compared to the rest of the New York City market, the Kew Gardens region has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 2 listings have come on the market, which means office spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 50% of the available space in the Kew Gardens are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,410 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are close to 3 stories. 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. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst Kew Gardens residents. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.