 Cubicals.jpg?width=241 "58-33 57th Dr")
Queens, NY - Office Market Overview
The Queens borough of New York City includes the Forest Hills, Hunters Point, and Jamaica commercial real estate submarkets. With a population of over 2.3 million, Queens is the largest of the five boroughs of New York City. Office space demand in Queens is strong due to the borough being adjacent to both Manhattan and the Bronx.
As of mid-2017, the office market in Queens contains 41 office & mixed-use properties larger than 50,000 square feet. The commercial real estate market in Queens, N.Y., is driven by a robust mix of trade & transportation, healthcare, and large corporate office users.
Queens, NY - Office Inventory Description
If Queens were an independent city and not a borough of New York, it would be the fourth-largest city in the U.S. after Los Angeles, Chicago, and Brooklyn. Because of its sheer size, Queens contributes significantly to the $1.2 trillion annual gross metropolitan product of the New York City region.
There is a tremendous amount of investment-grade office property of all sizes in Queens. Some of the larger office buildings include 58-33 57th Dr, the office properties at 40-29 27th Street and 4501 Northern Boulevard, and 8900 Sutphin Boulevard.
Queens, NY Commercial Inventory Breakdown
Office Spaces
Total: 18,856,658 SF
By square footage range:
- 50k to 100k SF: 3,515,049 SF / 18.64% of total office
- 100k to 500k SF: 10,122,849 SF / 53.68% of total office
- 500k to 1M SF: 2,659,650 SF / 14.1% of total office
- > 1M SF: 2,559,110 SF / 13.57% of total office
By class:
- Class A: 9,277,751 SF / 49.2% of total office
- Class B: 9,578,907 SF / 50.8% of total office
Top 10 Largest Office Buildings
in Queens
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| One Court Square | 1 Court Square, 11101 | 1,359,110 | 1990 |
| The Jacx | 28-07 Jackson Avenue, 11101 | 1,200,000 | 2019 |
| BridgePlaza TechCentre | 27-01 Queens Plaza North, 11101 | 711,236 | 2003 |
| The Falchi Building | 31-00 47th Avenue, 11101 | 711,194 | 1987 |
| Two Gotham Center | 42-01 28th Street, 11101 | 671,400 | 2011 |
| Queens Atrium Corporate Center - 30-30 Thomson Avenue | 30-30 Thomson Avenue, 11101 | 565,820 | 1985 |
| Two Court Square | 2 Court Square, 11101 | 490,000 | 2006 |
| Bulova Corporate Center | 75-20 Astoria Blvd South, 11370 | 480,000 | 1985 |
| Queens Atrium Corporate Center - 30-20 Thomson Avenue | 30-20 Thomson Avenue, 11101 | 466,582 | 1985 |
| LeFrak City - 59-17 Junction Blvd | 59-17 Junction Blvd, 11373 | 454,645 | 1970 |
Most Recently-Built Office Buildings
in Queens
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Flushing Commons Office Building | 136-35 39th Avenue, 11354 | 164,000 | 2017 |
| The Box Factory | 1519 Decatur Street, 11385 | 65,837 | 2017 |
| Apple Building | 30-30 Northern Blvd, 11101 | 213,000 | 2016 |
| The Bindery | 30-02 48th Avenue, 11101 | 163,986 | 2016 |
| 33-02 Skillman Avenue | 33-02 Skillman Avenue, 11101 | 99,000 | 2016 |
| 16-16 Whitestone Expwy | 16-16 Whitestone Expwy, 11357 | 59,727 | 2015 |
| Studio Square | 35-37 36th Street, 11106 | 39,542 | 2015 |
| 50-02 5th Street | 50-02 5th Street, 11101 | 52,000 | 2014 |
| 133-14 41st Avenue | 133-14 41st Avenue, 11355 | 29,100 | 2014 |
| The Cigar Factory | 35-11 9th Street, 11106 | 119,701 | 2012 |
Queens, NY - Green Office Space
Over the past 12 years, the amount of green office space in the top 30 U.S. office markets has increased by about seven times. According to the 2017 National Green Building Adoption Index, in 2005 the percentage of green office space compared to the total available office inventory was less than 5%. Now, a dozen years later, that percentage has increased to about 38% across these top U.S. office markets.
Although the existing green office space in Queens doesn't place the borough as a top 30 market, there are some excellent examples of LEED-certified and EPA Energy Star-rated office buildings in Queens, New York. One such example in Queens is CitiGroup's 22nd floor at 1 Court Square. With over 26,000 square feet of LEED Gold-certified office space, this entire floor received high scorecard ratings for energy & atmosphere, indoor environmental quality, water efficiency, and innovation in design.
Another fine example is the TD Bank retail branch at 162 Cross Bay Boulevard. This LEED Gold-certified building brings almost 3,000 square feet of energy-efficient office and retail space to the market.
Queens, NY's Top Office-Using Sectors
The Queens office market benefits from the predictably increasing demand for space created by top office-using sectors like trade & transportation, education & healthcare, business services, and large corporate headquarters.
- Trade & Transportation – Two of the busiest airports in the world - JFK International Airport and LaGuardia Airport - are located in Queens, and they, along with the countless small businesses they attract, help generate demand for office space in Queens.
- Education & Healthcare – Fidelis Care, CenterLight Healthcare, and St. John's University are part of this top office-using sector in Queens.
- Business Services – Business start-ups such as BuyBackWorld and NYC Daylighting help create demand for commercial real estate in Queens.
- Corporate Headquarters – White-collar office employment is generated by firms such as Bulova, Steinway & Sons, Glaceau, and JetBlue Airways that are headquartered in the borough.
Queens Demographics
Population
- Total Population2,271,271
- Male Population(48.6 %) 1,102,739
- Female Population(51.4 %) 1,168,532
- Median Age38.40
Income/Financial
- Average Household Income$70,783
- Median Household Income$60,328
- Median Income Under 25$37,904
- Median Income 25-44$65,417
- Median Income 45-64$67,307
- Median Income Over 65$39,852
- Bayside Demographics
- Briarwood Demographics
- College Point Demographics
- Corona Demographics
- Ditmars - Steinway Demographics
- Downtown Flushing Demographics
- Elmhurst Demographics
- Far Rockaway Demographics
- Forest Hills Demographics
- Glendale Demographics
- Hunters Point Demographics
- Jackson Heights Demographics
- Jamaica Demographics
- Jamaica Estates Demographics
- Kew Gardens Demographics
- LIC Demographics
- Maspeth Demographics
- Murray Hill Demographics
- Old Astoria Demographics
- Ozone Park Demographics
- Queens Village Demographics
- Rego Park Demographics
- Richmond Hill Demographics
- Ridgewood Demographics
- South Astoria Demographics
- Springfield Gardens Demographics
- Sunnyside Demographics
- Woodside Demographics
News
2018 Office Check-In: Top US Markets for Development, Largest Projects of the Year
September 20, 2018
We’re almost halfway through H2 2018, and it’s high time to check up on construction activity, as well as the state of the U.S. office pipeline when compared to previous analyses. Last year around the same time, we looked at top U.S. cities for office delivery during the fall-winter season, and ...
The U.S. office market is one of the most expensive in the world, and a top destination for national and offshore investors alike. It’s no wonder then that office assets in the States fetch exorbitant prices and investors continue to pump capital into developing bigger and better of...
A couple of months ago, we compiled a list of the top 100 taxpaying properties in the U.S. There was no shortage of iconic properties on that list, and yet, a number of landmarks were conspicuously absent (think the Chrysler Building, the Woolworth Building, or the One World Trade Center,...
Cities near Queens, NY
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Queens, NY zip codes
- 11101 Office Space
- 11102 Office Space
- 11103 Office Space
- 11104 Office Space
- 11105 Office Space
- 11106 Office Space
- 11354 Office Space
- 11355 Office Space
- 11356 Office Space
- 11357 Office Space
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Neighborhoods
- Auburndale Office Space
- Bayside Office Space
- Briarwood Office Space
- College Point Office Space
- Corona Office Space
- Ditmars - Steinway Office Space
- Downtown Flushing Office Space
- East Elmhurst Office Space
- East Flushing Office Space
- Elmhurst Office Space
- Far Rockaway Office Space
- Forest Hills Office Space
- Fresh Meadows Office Space
- Hunters Point Office Space
- Jackson Heights Office Space
- Jamaica Office Space
- Jamaica Estates Office Space
- Kew Gardens Office Space
- LIC Office Space
- Murray Hill Office Space
- Old Astoria Office Space
- Ozone Park Office Space
- Pomonok Office Space
- Queens Village Office Space
- Rego Park Office Space
- Richmond Hill Office Space
- Ridgewood Office Space
- South Astoria Office Space
- Springfield Gardens Office Space
- Sunnyside Office Space
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Cities near Queens, NY
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