On average, listings lease in the $70's per square foot per year. The Koreatown submarket is going through a a rise in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 5% rise in rent.
Compared to the rest of the New York City market, the Koreatown submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 649 listings have come on the market, so you'll want to check back regularly for new listings. About 6% of the available leases in the Koreatown are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,300 sqft. Most properties in this area are around 12 stories. Most buildings in this area were built in 1912 and are Class A.
Manufacturing is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Koreatown residents. Commuting close to 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 Koreatown.
Get email notifications when new listings are posted that match your requirements.