Most listings are in the $30's per square foot per year. The Flatbush submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $37 per sqft per year. That's a 51% decline in rent.
Compared to the rest of the New York City market, the Flatbush region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 21 listings have been made available, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. About 29% of the available space in the Flatbush 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 3,200 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 3 stories. Most buildings in this market were built in 1931 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Flatbush occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.