On average, listings lease in the $70's per square foot per year. The Prospect Heights submarket is seeing a a boost in rates. In the last 3 months, the median rate rose $73 per sqft per year.
Compared to the rest of the New York City market, the Prospect Heights submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 8 listings have been posted online, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. About 13% of the office spaces in the Prospect Heights are subleases, so you might be able to snag a great spot on a short term. 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 12,880 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 4 floors. Most buildings in this market were built in 1931.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst Prospect Heights occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.