Long Island City Office Market
| Average Asking Rent (Price/SF) | $54.17 |
| Availability Rate (%) | 26.8% |
| Net Absorption (SF) | -127,646 |
The overall Long Island City availability rate dropped 60 basis points quarter over quarter, to 26.8%. This marks the third consecutive quarter in which availability declined. The availability rate decreased by 160 basis points in The Factory District and by 50 basis points in Hunters Point. The large decline in The Factory District pushed its availability rate below that of Astoria, where availability increased by 20 basis points to 20.7%.
Download Long Island City Office Market Report 1Q22