On average, listings lease in the $40's per square foot per year. The Northeastern Queens submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $29 per sqft per year. That's a 37% decline in rent.
Compared to the rest of the New York City market, the Northeastern Queens submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 34 listings have been posted online, which means listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 50% of the available space in the Northeastern Queens are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,410 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 2 floors. Most buildings in this area were built in 1968 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Northeastern Queens residents. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.