The typical asking rate per listing is in the $30's per square foot per year. The Flatbush submarket is going through a decline in rates. In the last 3 months, the median rate fell $37 per sqft per year. That's a 51% decrease in rent.
Compared to the rest of the New York City market, the Flatbush region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 21 listings have been listed, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 29% of the available leases in the Flatbush 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 3,200 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are close to 3 stories. 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 market. 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.