On average, listings lease in the $70's per square foot per year. The Prospect Lefferts Gardens submarket is going through a an increase in rates. In the last 3 months, the median rate went up $73 per sqft per year.
Compared to the rest of the New York City market, the Prospect Lefferts Gardens submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 6 listings have been posted online, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 33% of the available space in the Prospect Lefferts Gardens 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 posted, so finding a space for a small business might be tough.
Even though the median size is 44,410 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are around 2 floors. Most buildings in this region 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. Utilities is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Prospect Lefferts Gardens occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.