The typical asking rate per listing is in the $70's per square foot per year. The Koreatown region is going through a a boost in rates. In the last 3 months, the median rate rose $73 per sqft per year.
Compared to the rest of the New York City market, the Koreatown submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 91 listings have been made available, so you'll want to check back regularly for new listings. About 62% of the listings in the Koreatown 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 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 1,850 sqft. Most properties in this area are approximately 12 floors. Most buildings in this region 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 occupants. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.