On average, listings lease in the $0's per square foot per year. The Jericho submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $33 per sqft per year. That's a 100% decrease in rent.
In the last 90 days, 15 listings have been listed, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 7% of the available leases in the Jericho are subleases, so you will probably have to consider a longer term 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 9,490 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are close to 3 stories. Most buildings in this area were built in 1980 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Jericho folk. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.