On average, listings lease in the $50's per square foot per year. The Flatbush submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $4 per sqft per year. That's a 9% increase in rent.
Compared to the rest of the New York City market, the Flatbush region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 21 listings have come on the market, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,400 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 3 floors. 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 residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.