Retail

Commercial Property for Lease – 221 Madison Street, New York, NY 10002

Asking Rent: $3,500 / Month
Size: 350 SF
Price per SF: ~$120 / SF annually
Property Type: Retail / Service / Boutique Office
Location: Lower East Side / Chinatown (10002)
Availability: Immediate

Property Overview

221 Madison Street offers a 350 SF compact retail or office space in Manhattan’s Lower East Side/Chinatown corridor. With affordable rent and strong visibility in a high-density residential area, the property is well-suited for small service operators, boutique retailers, or professional office users.

The neighborhood benefits from heavy daily pedestrian traffic, supported by local residents, nearby schools, and access to major downtown corridors.

Key Features

• Total Size: 350 SF
• Asking Rent: $3,500/month ($42,000 annually)
• Price per SF: ~$120 annually
• Use Flexibility: Retail, service shop, boutique office, or quick-service food concept
• Frontage: Street-level exposure on Madison Street
• Condition: Lease-ready; adaptable for tenant build-out

Market Profile

• Target Tenants: Convenience retail, beauty/barber services, boutique office users, or grab-and-go food operators
• Neighborhood Demand: Strong residential density and steady demand for essential services in the LES/Chinatown market
• Competitive Advantage: At ~$120/SF, this is a cost-efficient entry point into a downtown retail corridor compared to SoHo or FiDi spaces

Financial Highlights

• Monthly Rent: $3,500
• Annual Rent: $42,000
• Price per SF: ~$120 annually
• Lease Terms: Direct lease, flexible
• Upside Potential: Affordable size and rent make it attractive for new or first-time operators seeking Manhattan exposure

Location Advantages

• Neighborhood: Lower East Side / Chinatown
• Proximity: East Broadway, Manhattan Bridge, Confucius Plaza, and FiDi access
• Transit: Near East Broadway (F line) and multiple MTA bus routes
• Foot Traffic: Consistent from residents, students, and visitors

Summary

The 350 SF space at 221 Madison Street provides an affordable downtown leasing opportunity at $3,500/month (~$120/SF annually). Compact yet visible, it’s a strong option for boutique retailers, service shops, or small professional tenants seeking to operate in the Lower East Side/Chinatown corridor.