Koreatown is an ethnic Korean enclave in Midtown Manhattan in New York City, centered on West 32nd Street between Fifth Avenue and the intersection of Sixth Avenue and Broadway, which is known as Greeley Square. The neighborhood features over 100 small businesses, including eateries and shops.Historical backgroundHistorically, Manhattan's Koreatown has been part of the Garment District. Koreatown is primarily a Korean business district, but the neighborhood has experienced an increase in Korean and European traffic as well, and the resident Korean population in the area has grown concomitantly. There was never a formal plan or agreement to create a Korean commercial district in Manhattan. However, given the high tourist traffic stemming from nearby Midtown Manhattan landmarks like the Empire State Building, Macy's Herald Square, Penn Station, Madison Square Garden, the Garment District, and the Flower District, it was a convenient location for Korean immigrants to settle. Initiated by the opening of a Korean bookstore and a handful of restaurants in the 1980s, Koreatown sprang into being. With their success, an additional stream of Korean-owned businesses took root in the neighborhood, coinciding with increased immigration from Korea; and with rising demand for the prime location, overall property values in the area increased as well.