Long Island City Office Space

Long Island City

Office Space Market Report

Number of Listings (last 90 days)
43
Median Rate ($/sqft/yr)
$46
Median Size (sqft)
7,060
As of: March 30, 2017

Long Island City Rates

On average, listings lease in the $40's per square foot per year. The Long Island City region is seeing a decline in rates. In the last 3 months, the median rate fell $10 per sqft per year. That's a 18% decrease in rent.

Compared to the rest of the New York City market, the Long Island City submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.

Long Island City Listing Supply

In the last 90 days, 43 listings have been listed, so you'll want to check back regularly for new listings. About 5% of the listings in the Long Island City are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 3,000 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are close to 2 floors. Most buildings in this market were built in 1931 and are Class A.

Long Island City Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Long Island City 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.

Market Report

Trends and status of the commercial real estate market in Long Island City.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Long Island City.
Research