Office space in
Korea Town.
One of Manhattan’s 31 office submarkets — advised by DLS Commercial Real Estate, tenant-side, lease by lease.
Koreatown is a compact, high-energy office market around West 32nd Street near Herald Square and the Empire State Building — loft towers above one of the city’s densest retail and dining corridors. It suits small and midsize professional, retail, and creative tenants seeking central Midtown transit at a value. DLS Commercial Real Estate advises tenants here, tenant-side, lease by lease.
At a glance
Character
The dense block of West 32nd Street and its surroundings near Herald Square — round-the-clock retail and dining beneath loft and office towers, in the shadow of the Empire State Building.
Typical tenant
Small and midsize professional firms, retail and hospitality businesses, and creative tenants — occupiers that value central transit, Herald Square foot traffic, and accessible rents.
Building stock
Early-20th-century loft and office towers with modest-to-mid floorplates, mixed condition, and strong retail bases — alongside the major towers ringing Herald Square. Larger blocks are limited.
Rent posture
A central Midtown value: asking rents sit below the Midtown average, with flexibility on smaller floors. (Current market data, Q1 2026.)
A DLS datapoint
Illustrative — DLS stamps one original, first-hand figure here (e.g. the typical small-floor range measured across recent Koreatown tours).
Deal footprint
Illustrative — an anonymized DLS engagement in the district goes here (e.g. a professional tenant secured near Herald Square on improved terms).
Office inventory
8,855,710 SF of office space across 57 office buildings — 37 of them 50,000 SF or larger, averaging a 1918 vintage.
Small (<50k)
20 buildings, 513,743 SF total, averaging a 1918 vintage.
The floor of the market — single-tenant or partial-floor space.
Mid-Size (50k-150k)
24 buildings, 2,156,890 SF total, averaging a 1915 vintage.
Room to grow — typically several floors for one tenant.
Large (150k-500k)
10 buildings, 2,131,916 SF total, averaging a 1917 vintage.
Anchor scale — often most or all of a building.
Trophy (>=500k)
3 buildings, 4,053,161 SF total, averaging a 1943 vintage.
Headquarters scale — the market's largest occupiers.
Source: NYC Department of City Planning, MapPLUTO (fetched July 2026) — counting only true office buildings: 10,000 SF of office or more, office above grade (not a ground-floor office under apartments), purpose-built or converted loft/office-condo stock. Spatially joined to DLS’s 31 mapped submarkets.
Where rents sit
Asking rent, $/SF · Current market data, Q1 2026 — shown as a range reflecting a spread across sources.
Questions
What is the office market like in Korea Town?
Koreatown is a compact office market around West 32nd Street near Herald Square and the Empire State Building — loft towers above a dense retail corridor, leased by small and midsize professional and creative tenants. DLS Commercial Real Estate represents tenants here, negotiating central-Midtown space at accessible rents.
Does DLS represent tenants in Korea Town?
Yes. DLS Commercial Real Estate advises office tenants across Korea Town and Manhattan's other office submarkets — the tenant's interests only, with a fee customarily paid by the landlord.