Most listings are in the $70's per square foot per year. The Koreatown region is going through a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 4% decline 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, 91 listings have been listed, so you'll want to check back regularly for new listings. About 34% of the available space in the Koreatown are subleases, so you might be able to find a shorter term or below market rent. 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 1,450 sqft. Most properties in this market are approximately 12 stories. Most buildings in this area 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 residents. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.