The typical asking rate per listing is in the $50's per square foot per year. The Chinatown submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $10 per sqft per year. That's a 15% decrease in rent.
In the last 90 days, 16 listings have come on the market, which means spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 6% of the office spaces in the Chinatown are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 6,930 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are around 8 floors. Most buildings in this region were built in 2004 and are Class A.
This region is fairly equally mixed residential and commercial. Construction is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Chinatown folk. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Chinatown.
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