Koreatown is expanding its territory from 32nd Street between Broadway and Fifth onto Fifth Avenue itself, in search of more affordable storefront space owing to a less-than-0-percent vacancy rate. The math anomaly stems from occupancy on not just the ground floor, but the "second third and even sixth." K-Town rents are now around $200-$300 per square foot, surpassing fancy shopping strips like SoHo and the Upper West Side. [WSJ]
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