Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1 Court Sq Queens, NY

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available for lease in Long Island City, NY.

    Type:OFFICE
    Property size:
    32,074 SF
    Lot size:
    1.98 Acres
    Added:
    May 10, 2023
    Days on Market:
    1058
    Last Refresh:
    Mar 29 at 9:16 pm

    Property Features for 1 Court Sq

    General Information

    Standard status
    Active
    Size
    32,074 SF
    Lot size
    1.98 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 1 Court Sq Contact us

    We can help!

    Listing Contact
    Bruce Mosler
    Bruce Mosler

    Listing agent Bruce Mosler

    Listing office Cushman & Wakefield | Midtown Manhattan

    Listing date May 10, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield | Midtown Manhattan

    Overview

    Office Space in Long Island City

    A 54-story office building constructed in 1989, offering approximately 1,436,950 rentable square feet. The building, located at 1 Court Sq, Long Island City, New York, is now available for lease. Available office space ranges from 31,649 to 34,074 square feet.
    Location Intelligence

    Current Use by Public Records

    LIC Barbershop Barber Shop tri-biz market Telecommunications Service Mrs. Goodhire LLC Business Management Consultant Long Island City ... Hardware & Home Improvement Altice USA Media Distribution

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.9429
    Latitude
    40.7464

    Nearby Similar for Lease

    • Contact for pricing

      Prime Retail Space Available

      High-visibility storefront with spacious basement in busy commercial area.
      95-08 35th Ave, Queens, NY 11372
      View Details
    • Contact for pricing

      Professional Office Space For Rent

      800 sqft corner office space with high visibility.
      23-02 29th Street, Queens, NY 11105
      View Details
    • Contact for pricing

      Flushing Community Facility Space Available

      Ground-floor community facility space with open layout and dual entrances.
      142-05 45th Ave, Queens, NY 11355
      View Details
    • Contact for pricing

      Full-Floor Apartment in Queens Village

      Brand new three-bedroom apartment near transportation, shopping, and dining.
      211-45 Jamaica Avenue, Queens, NY 11428
      View Details
    • Contact for pricing

      Medical Office Space For Lease

      Medical office space available for lease in Sunnyside/Woodside.
      4705 44th St A123, Queens, NY 11377
      View Details
    • Contact for pricing

      Maspeth 2-Bedroom Apartment For Rent

      Spacious, well-maintained 2-bedroom apartment in prime Maspeth location.
      6089 54th St 2nd FL, Queens, NY 11378
      View Details
    • Contact for pricing

      Astoria One Bedroom with Balcony

      One bedroom apartment with balcony in central Astoria location.
      27-15 Astoria Boulevard, Queens, NY 11102
      View Details
    • Contact for pricing

      Spacious Apartment with Two Porches

      Three-bedroom apartment with two full bathrooms and two porches.
      10521 53rd Ave, Queens, NY 11368
      View Details
    • Contact for pricing

      Retail Space on Queens Blvd

      Retail space available in a high-traffic location.
      39-01 Queens Blvd, Queens, NY
      View Details
    • Contact for pricing

      Vented Kitchen & Food Stations

      15,789 RSF vented kitchen space with food court stations.
      27-01 Queens Plaza North, Queens, NY 11101
      View Details
    • Contact for pricing

      Mixed-Use Space in Long Island City

      1097 SF mixed-use space in the heart of Long Island City.
      13-22 Jackson Ave, Queens, NY
      View Details
    • Contact for pricing

      New Warehouse and Office Space

      4,000 SF warehouse with optional office space available.
      24-47 47th St, Queens, NY
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available for lease in Long Island City, NY.
    Where is this office units located?
    The property is located at 1 Court Sq Queens, NY.
    What are key features of this property?
    This property features: Available office space for lease in a 54‑story building.; Located at 1 Court Square, Long Island City, New York 11101.; Substantial rentable square footage: approximately 1,436,950 SF.
    (212) 841-7500
    We can help!
    Listing Contact
    Bruce Mosler
    Bruce Mosler
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!