The typical asking rate per listing is in the $110's per square foot per year. The Rose Hill submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $14 per sqft per year. That's a 11% decline in rent.
Compared to the rest of the New York City market, the Rose Hill submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 40 listings have come on the market, which means listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 43% of the office spaces in the Rose Hill are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,100 sqft. Most properties in this area are approximately 8 floors. Most buildings in this region were built in 1916 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Rose Hill residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.