The typical asking rate per listing is in the $50's per square foot per year. The Forest Hills region is experiencing a a boost in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the New York City market, the Forest Hills submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 11 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 9% of the listings in the Forest Hills are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,500 sqft. Most properties in this area are around 3 floors. Most buildings in this area were built in 1950 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Forest Hills residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.