MANHATTAN RETAIL SPACE

Retail space in Manhattan is expensive. Prices per Square Foot vary from $75.00 per Square Foot all the way up to $1,500 in Manhattan’s most desirable shopping districts. The price for retail stores is driven strictly by the location.

Since there is a limited supply of Manhattan retail space in, it can be very competitive to acquire retail space; most store spaces receive multiple offers from perspective tenants.

Manhattan Retail Featured Properties

Below Market Sublease
4,700 SF
$11,358
West 38th Street
Garment District

Office/Showroom
1,393 SF
$3,134
38th Street
Garment/Accessory District

Office/Creative Space
2,233 SF
$5,001
38th Street
Garment District

Art Gallery
800 SF
$8,000
Madison Avenue
Upper East Side

Art Gallery Rental
1,088 SF
$4,352
57th Street
5th/Madison Avenue

Office space
3,263 SF
$13,323
Fifth Avenue
Grand Central Station

Office Loft
1,000 SF
$3,500
Broadway
Greenwich Village

Office Space
1,218 SF
$4,770
Madison Avenue
Grand Central Station

Office Loft Sublease
2,000 SF
$7,166
Fifth Avenue
Gramercy Park

Downtown Office Space
2,000 SF
$5,833
Trinity Place
World Trade Center

Attributes of Manhattan Retail Space

Retail space is located on the ground floor, lower level of commercial buildings. Some landlords consider the 2^nd and 3^rd floors as retail space because the tenant has windows facing the street and can install highly visible signage.

The more conventional retail space is ground space which in most instances comes with some basement space.

Retail/store space generally has very low loss factors which generally range from 3-10%. Manhattan retail space is generally offered in “as in” condition, with no landlord work, with a cash contribution negotiable in the form of free rent.

Some landlords do not allow the use of their retail space for restaurants or cooking.

The most desirable retail district of Manhattan is the “Gold Coast” located from 50^th Street up to 62^nd Street, and from Madison to Fifth Avenue. Rents in this area range from $600 to well over $1,000 per Square Foot. Such upscale retailers as Cartier, Barneys, Hermes, Bergdorf Goodman, Fortunoff and Dolce and Gabbana have stores in the area.