On average, listings lease in the $70's per square foot per year. The Downtown Flushing submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the New York City market, the Downtown Flushing region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 4 listings have come on the market, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. 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 3,220 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 3 floors. Most buildings in this area were built in 2002 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Downtown Flushing folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.