30 E 60th Street, NY NY, Retail, Art Gallery space for lease UES The image is rendering to show how […]
Plaza District, Upper East Side
1,500 sf – 3,000 sf, Ground floor, Retail space for lease or for sale. Possession arranged. Excellent location.
Broadway, Columbus Circle
3,000 sf, 5,000 sf, 10,000 sf, Ground and 2nd floor for Lease or sale, term 3-15 yrs, Vacant, Retail/Office/Art […]
Restaurant Space for lease, Ground floor: 1000 – 2000 sq ft, plus Basement , Condition: Brand new renovation and construction, […]
Downtown Manhattan, Greenwich Village
W 42nd St, NYC 10036 Bryant Park Retail space for rent 2,000 – 5,000 sf. 2,000 sf – 5,000 sf, […]
Bryant Park, Midtown Manhattan
Retail space for rent in Manhattan, NYC
Retail space for rent in Manhattan, NYC – New York City is probably the most emblematic city in the US, depicting in its development the saying of being the city of unlimited opportunities. Even inside the USA, New York City remains the most attractive, vibrant, influential and trend-setting city. Modern days have not changed the fact that “The Big Apple” continues to attract people from around the world – as an attractive place to work, attractive place to shop, study and network or experience travel & art. That all is reflected on the property market and it remains an attractive market for institutional and individual investors, trust managers and individuals looking to invest in retail space for lease or sale.
The new age of e-commerce is leaving its imprint on some cities, where traditional brick and mortar shops on main streets are forced to close due to the continuous rise of e-commerce, making their existence pointless. Before commencing your search for a New York City retail space to lease, you should have a clear answer on the following parameters:
• What am I selling and whom am I selling it to?
• Do my target group of customers need a physical space to make the purchase or use additional services?
• What will make me stand-out from my competitors’ located near-by?
• Is the location of the retail space a source of pedestrian traffic?
• Is my target group of customers part of the pedestrian traffic in sustainable numbers?
• Do you see future potential in the location – such as plans for new builds, municipal plans for area development?
• What is the usable space I am getting for the leasing rate? How big is the loss factor?
• What incentives is the landlord offering for a long-term contract?
Prices of retail space vary in very wide ranges if we talk about New York retail space. The main driver in determining retails space leasing rates is the location.
Prices can start from $40 per square foot per year in Boroughs and all the way up to $2200 for a retail store on Park Avenue in Manhattan.
There will be many options for you to lease a retail or commercial space in New York City, but you have to consider carefully all aspects of your business and the location you are aiming at. Taking the market as a whole for New York City, there are imbalances in demand and supply across the boroughs and even between two adjacent streets. It is more likely to have more competition for signing a lease contract for retail space in Manhattan Midtown and to choose from plenty of options in Queens or Staten Island.
There are plenty of opportunities of retail space for sale, largely depending how big your budget is. Once you have your desired retail space in sight, you better consult a professional real estate broker, as the market is high on demand and there might be several tenants competing for one and the same retail space. Also landlords can play a role in the selection of their future tenant, as they have the right to select candidates or to impose additional requirements for the prospective retail space tenants, which is another advantage to have a professional on your side.