The typical asking rate per listing is in the $70's per square foot per year. The Downtown Flushing submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the New York City market, the Downtown Flushing submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 4 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,220 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are close to 3 floors. Most buildings in this region were built in 2002 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Downtown Flushing residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.