Commercial Retail/Office Lease – 480 Park Avenue, New York, NY 10022
Asking Rent: $40,000/Month
Available Space: 1,530 SF
Location: Midtown East – Park Avenue Corridor (10022)
Availability: Immediate
Property Overview
480 Park Avenue presents a 1,530 SF boutique commercial space in one of Midtown East’s most prestigious corridors. Located between East 58th and East 59th Streets, this address provides prime Park Avenue visibility surrounded by luxury hotels, corporate headquarters, and high-income residential towers.
Read More
The property is well-suited for luxury retail, boutique medical, gallery/showroom, or executive office use, offering tenants the ability to secure brand presence in one of New York City’s most exclusive corporate and residential districts.
Key Features
- Size: 1,530 SF
- Asking Rent: $40,000 per month
- Annualized Rent: $480,000
- Effective Rent per SF: ~$314/SF annually
- Building Class: Luxury mixed-use with ground-floor commercial suites
- Prestige Factor: Park Avenue address with premium branding potential
Market Profile
- Submarket: Midtown East / Park Avenue Corridor
- Demand Drivers: Proximity to luxury retail corridors (Madison & Fifth Avenues), Fortune 500 headquarters, and high-net-worth residential base
- Target Tenants: Luxury retailers, boutique medical/wellness practices, art galleries, financial service firms
- Competitive Advantage: Smaller-format Park Avenue retail/office suite – rare availability in this corridor where larger floorplates dominate
Financial Highlights
- Asking Rent: $40,000/Month
- Size: 1,530 SF
- Annual Rent: $480,000
- Effective Rent per SF: ~$314/SF
- Lease Term: Negotiable; NNN or modified gross standard
- Upside Potential: Scarcity of small Park Avenue spaces ensures long-term rent growth and tenant stability
Location Advantages
- Neighborhood: Midtown East – luxury corporate and retail hub
- Proximity: Steps to Central Park, Plaza Hotel, high-end Madison Avenue retail, and Bloomberg Tower
- Transit: Excellent access to 59th Street/Lexington Ave station (N/Q/R, 4/5/6), and nearby Grand Central Terminal
- Tenant Demand: Strong from luxury brands, boutique medical, and professional firms seeking visibility and prestige
Summary
The 1,530 SF space at 480 Park Avenue is offered at $40,000/month (~$314/SF annually), representing a rare boutique opportunity in one of Midtown’s most exclusive corridors. With its premium Park Avenue frontage, affluent demographics, and prestige branding potential, the property is ideal for luxury retail, medical, or gallery/showroom tenants.
