The typical asking rate per listing is in the $40's per square foot per year. The Forest Hills submarket is going through a decline in rates. In the last 3 months, the median rate fell $17 per sqft per year. That's a 30% decrease in rent.
Compared to the rest of the New York City market, the Forest Hills region has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 9 listings have been made available, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 11% of the available space in the Forest Hills 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.
Even though the median size is 5,000 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are around 3 stories. Most buildings in this region were built in 1950 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Forest Hills folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.