The typical asking rate per listing is in the $60's per square foot per year. The Chinatown region is seeing a a rise in rates. In the last 3 months, the median rate increased $6 per sqft per year. That's a 9% increase in rent.
Compared to the rest of the New York City market, the Chinatown submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 24 listings have come on the market, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 92% of the available leases in the Chinatown are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,400 sqft. Most buildings in this region are close to 6 stories. Most buildings in this region were built in 1913 and are Class A.
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 occupants. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.