2024 Office Space Rent & Sales
- $30.09 2024 Avg. Asking Rent
- 37.95% 2024 Office Vacancy Rate
Long Island City office price per square foot in 2024 was $30.09 on average. The local office market recorded an average vacancy rate of 37.95% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- New York Class A & A+ Office Space$59.04
- New York Class B Office Space$43.55
- New York Class C Office Space$35.67
Long Island City, NY Office Asking Rents by Class
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2024 Office Construction in Long Island City, NY
- Long Island City, NY Total SF completed in 2024 26,731
During 2024, 26,731 square feet of new office space were delivered across the market. At the close of 2024, the Long Island City office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 26,731 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 2701 Jackson Ave | 2701 Jackson Ave, 11101 | 8,546 | 2024 |
| 52-03 Center Blvd | 52-03 Center Blvd, 11101 | 15,188 | 2023 |
| The Jacx | 28-07 Jackson Avenue, 11101 | 1,200,000 | 2020 |
| 29-22 Northern Blvd | 29-22 Northern Blvd, 11101 | 15,722 | 2018 |
| 43-10 9th Street | 43-10 9th Street, 11101 | 3,500 | 2017 |
| Court Square Place | 24-01 44th Road, 11101 | 274,433 | 2006 |
| One Court Square | 1 Court Square, 11101 | 1,359,110 | 1990 |
| One Court Square | One Court Square, 11101 | 1,436,950 | 1989 |
| 24-02 41 St Avenue | 24-02 41 St Avenue, 11101 | 10,000 | 1987 |
| 45-01 Vernon Blvd | 45-01 Vernon Blvd, 11101 | 90,000 | 1942 |
Worth noting among recent office completions on the Long Island City market is 2701 Jackson Ave, which is currently the largest new office development in the city, at 8,546 square feet.
See reports for other markets
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Long Island City commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.