Bus lines 14 and 40 passes through Nørre Farimagsgade, line 14 connecting to Nørreport and line 40 to Copenhagen Central Station. Numerous bus lines furthermore stop at Sølvtorvet.
Don't rely on the city bikes, but you may try one if you find one. The official parking stands are marked on the map. The bikes are really awful to ride.
You can only park your car if it is licensed with an "ØV" parking license. But you can park in Øster Søgade, Øster Farimagsgade, Upsalagade, Lundsgade and Stockholmsgade. There will always be places to find in the latter street(s). Parking costs DKK 15 per hour Monday-Friday 8:00-22:00 h and Saturday 8:00-17:00 h. There is moreover a DKK 2 per hour fee for parking at night 22:00-8:00 h nights after Monday-Friday. More info is available at Parkering København.