Commercial Investment Property for Lease – 420–438 Second Avenue, New York, NY 10010

Asking Rent: $30,000 / Month
Sale Type: Lease – Retail / Commercial Opportunity
Property Type: Ground-Floor Retail / Restaurant Space
Location: Urban – Kips Bay / Gramercy, Manhattan (10010)
Availability: Immediate

Property Overview

420–438 Second Avenue presents a 1,630 SF retail leasing opportunity in the bustling Kips Bay/Gramercy corridor. With its prime frontage along Second Avenue and steady pedestrian/residential traffic, this property is ideally positioned for food, beverage, or service operators seeking a mid-sized, high-visibility space.

The property’s configuration and neighborhood demographics make it particularly attractive for restaurants, cafés, fitness studios, or specialty retail. Surrounded by residential towers, medical facilities, and schools, the location provides a strong built-in customer base.

Key Features

• Total Size: 1,630 SF
• Asking Rent: $30,000/month (~$221/SF annualized)
• Property Type: Ground-floor retail / restaurant space
• Location: Kips Bay / Gramercy, Second Avenue frontage
• Visibility: Excellent exposure with consistent local and commuter traffic
• Configuration: Open floor plan adaptable for food service, retail, or hybrid concepts

Market Profile

• Property Type: Mid-size Manhattan retail with strong neighborhood demand
• Target Tenant Base: Restaurants, cafés, boutique fitness, wellness, neighborhood retail
• Neighborhood Demand: Kips Bay combines dense residential, hospital/medical activity, and proximity to schools, ensuring daily pedestrian flow
• Competitive Advantage: Slightly larger than typical boutique spaces, offering more flexibility while maintaining manageable rent compared to SoHo/Union Square

Financial Highlights

• Asking Rent: $30,000 per month
• Annualized Rent: $360,000
• Rent per SF (Annualized): ~$221/SF
• Lease Type: Typically NNN or modified gross (to be negotiated)
• Upside Potential: Long-term rent stability driven by consistent residential density and institutional demand in Kips Bay/Gramercy

Location Advantages

• Neighborhood: Kips Bay / Gramercy – dense residential and institutional hub in Midtown South
• Proximity: NYU Langone Medical Center, Baruch College, Bellevue Hospital, and major residential complexes
• Transit: Excellent subway access (6 line, multiple bus routes) with easy connectivity to Midtown and Downtown
• Tenant Demand: Strong from both neighborhood-serving businesses and regional food/service operators

Summary

The 1,630 SF retail property at 420–438 Second Avenue, New York, NY is offered at $30,000/month (~$221/SF annually), presenting a prime opportunity for restaurants or mid-size retailers seeking visibility and stability in the Kips Bay/Gramercy corridor. With steady residential density, institutional anchors, and strong transit access, this space offers immediate tenant appeal and long-term value.