Most listings are in the $60's per square foot per year. The Chinatown region is experiencing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the New York City market, the Chinatown region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 18 listings have been made available, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,630 sqft. Most buildings in this market are approximately 6 stories. Most buildings in this region were built in 1912 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Chinatown residents. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.