On average, listings lease in the $40's per square foot per year. The Northeastern Queens submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $29 per sqft per year. That's a 37% decline in rent.
Compared to the rest of the New York City market, the Northeastern Queens submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 34 listings have been listed, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 47% of the available leases in the Northeastern Queens 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,410 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are around 2 floors. Most buildings in this region were built in 1968 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Northeastern Queens folk. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.