The events forum isn't the right place for this. Moving to General

Not enough information for a good answer.  Is it a day-long shoot?  Something you can do in an hour?

Rates for commercial use depend on three things:  the special market acceptance of the model (which generally doesn't apply except to high end fashion models and celebrities), the time involved in the shoot, and the usage.

New York agency rates vary by client and job, but the default is $250 per hour.  Being on a flyer might bring $500 or so as a usage rate.  Those, for an unrepresented model, are on the high side, but not at all unreasonable.

The real question is "what do they expect to pay?".  Normally a client quotes a rate, and the model (or her agency) accepts it, negotiates with it as a starting point, or rejects it.

For the use they have and the time they will use the image I should tell you that you can get something starting from 500 to 1500.
But Ask in what more are they using  that image?  The sad thing is I'm sure there lot's of models who might work fot them for free.  If is something you want to do it you can go on 300 but not less. It's a matter of negotiations with your client. Good Luck