Queens, NY Office Overview
The Queens borough of New York City includes the Flushing, Astoria, and Jamaica submarkets. With a population of over 2.3 million, it’s the largest of the five boroughs. Office space demand is strong due to its adjacent position to both Manhattan and Brooklyn.
As of mid-2017, the market contains 41 office & mixed-use properties larger than 50,000 square feet, and it’s driven by a robust mix of trade & transportation, healthcare, and large corporate offices.
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. Its sheer size 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 properties in Queens. Some of the larger office buildings include 58-33 57th Dr, 40-29 27th Street, 4501 Northern Boulevard, and 8900 Sutphin Boulevard.
Queens, NY Commercial Inventory Breakdown
Office Spaces
Total: 28,590,480 SF
By square footage range:
- 50k to 100k SF: 4,950,802 SF / 17.32% of total office
- 100k to 500k SF: 13,411,760 SF / 46.91% of total office
- 500k to 1M SF: 5,188,208 SF / 18.15% of total office
- > 1M SF: 5,039,710 SF / 17.63% of total office
By class:
- Class A: 12,074,518 SF / 42.23% of total office
- Class B: 10,433,235 SF / 36.49% of total office
- Class C: 742,340 SF / 2.6% of total office
Top 10 Largest Office Buildings
in Queens
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Special Flushing Waterfront District | NWC Roosevelt Avenue & College Point Blvd, 11354 | 1,397,040 | n/a |
| One Court Square | 1 Court Square, 11101 | 1,359,110 | 1990 |
| The Jacx | 28-07 Jackson Avenue, 11101 | 1,200,000 | 2020 |
| Sunnyside Yard - Office Buildings, Future Phases | SEC Northern Blvd & Queens Blvd, 11101 | 950,000 | n/a |
| Bridgedale Plaza | 24-02 49th Avenue, 11101 | 828,558 | 2019 |
| Sunnyside Yard - Office Buildings, Phase I | SEC Northern Blvd & Queens Blvd, 11101 | 750,000 | n/a |
| 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 |
Most Recently-Built Office Buildings
in Queens
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Bridgedale Plaza | 24-02 49th Avenue, 11101 | 828,558 | 2019 |
| Hillside Commons | 178-02 Hillside Avenue, 11101 | 176,130 | 2019 |
| Tangram Tower | 37-12 Prince Street, 11354 | 95,898 | 2019 |
| The Cardinal Building | 21-01 51st Avenue, 11101 | 62,701 | 2019 |
| 11-20 46th Road | 11-20 46th Road, 11101 | 34,725 | 2019 |
| HUB LIC | 47-25 34th Street, 11101 | 330,000 | 2018 |
| The Point LIC - Blanchard | 2110 51st Avenue, 11101 | 214,670 | 2018 |
| 47-11 Austell Place | 47-11 Austell Place, 11101 | 170,334 | 2018 |
| The Point LIC - Paragon | 2100 49th Avenue, 11101 | 126,057 | 2018 |
| bldg. 10-27 | 10-27 46th Avenue, 11101 | 60,000 | 2018 |
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 700%. 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 LEED-Certified and EPA Energy Star-rated office buildings in the borough. CitiGroup's 22nd floor at 1 Court Square in Long Island City has over 26,000 square feet of LEED-Certified Gold space. The entire floor received high scorecard ratings for energy & atmosphere, indoor environmental quality, water efficiency, and innovation in design.
Another example is the SMP Building, also in LIC. This Energy Star Certified property brings 330,000 square feet of energy-efficient creative office to the market as well as a one-acre rooftop farm.
Queens, NY's Top Office-Using Sectors
Queens benefits from the demand for space created by sectors like trade & transportation, education & healthcare, business services, and corporate headquarters.
- Trade & Transportation – JFK International Airport and LaGuardia Airport are two of the busiest airports in the world.
- Education & Healthcare – Fidelis Care, CenterLight Healthcare, and St. John's University.
- Business Services – Business start-ups such as BuyBackWorld and NYC Daylighting.
- Corporate Headquarters – Bulova, Steinway & Sons, Glaceau, and JetBlue Airways.
Queens Demographics
Population
- Total Population2,267,944
- Male Population(48.6 %) 1,101,686
- Female Population(51.4 %) 1,166,258
- Median Age39.00
Income/Financial
- Average Household Income$80,170
- Median Household Income$70,574
- Median Income Under 25$44,609
- Median Income 25-44$74,570
- Median Income 45-64$79,185
- Median Income Over 65$46,890
News
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Amazon plans to take about 1 million square feet of Queens office space at Savanna’s One Court Square. The building will serve as a temporary location for HQ2 Long Island City, while the company’s campus at Anable Basin is underway. Citi, which has been in the tower since 1990, announced two day...