The typical asking rate per listing is in the $70's per square foot per year. The Koreatown region is going through a an increase in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 6% rise in rent.
Compared to the rest of the New York City market, the Koreatown region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 52 listings have been posted online, so you'll want to check back regularly for new listings. About 4% of the listings in the Koreatown are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,610 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are close to 12 stories. Most buildings in this region were built in 1912 and are Class A.
Manufacturing is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Koreatown occupants. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.