Most listings are in the $70's per square foot per year. The Downtown Flushing submarket is going through a decline in rates. In the last 3 months, the median rate fell $11 per sqft per year. That's a 13% decline in rent.
Compared to the rest of the New York City market, the Downtown Flushing region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 4 listings have come on the market, which means leases 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 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 listings below 2,000 sqft. Most properties in this area are around 3 stories. Most buildings in this market 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 market. 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.