Koreatown Sublease

Koreatown

Office Space Market Report

Number of Listings (last 90 days)
42
Median Rate ($/sqft/yr)
$66
Median Size (sqft)
1,500
As of: December 3, 2016

Koreatown Rates

On average, listings lease in the $60's per square foot per year. The Koreatown submarket is going through a decline in rates. In the last 3 months, the median rate fell $11 per sqft per year. That's a 14% decrease in rent.

Compared to the rest of the New York City market, the Koreatown submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.

Koreatown Listing Supply

In the last 90 days, 42 listings have been posted online, so you'll want to check back regularly for new listings. About 10% of the office spaces 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.

The standard measurement for office space in this area is around 1,500 sqft. Most properties in this area are around 12 floors. Most buildings in this region were built in 1912 and are Class A.

Koreatown Community

Manufacturing is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Koreatown folk. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Koreatown.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Koreatown.
Research