On average, listings lease in the $30's per square foot per year. The Astoria submarket is going through a decrease in rates. In the last 3 months, the median rate fell $26 per sqft per year. That's a 42% decline in rent.
Compared to the rest of the New York City market, the Astoria region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 19 listings have been listed, which means listings 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 available, so finding a space for a small business might be tough.
Even though the median size is 8,800 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are around 2 floors. Most buildings in this market were built in 1945 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 area. Commute by walking is the most popular way to get to work amongst Astoria folk. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.