Retail

Flagship Retail Space on Madison Avenue – 1150 Madison Ave, Carnegie Hill / Upper East Side

Address: 1150 Madison Avenue, New York, NY, 10028
Price: $120,000/month
Square Feet: 5,000 SF (approximate; 5,635 SF listed at nearby 1136-1146 Madison Ave at $150,000/month provides context)
Type: Retail Space

Property Overview:

Located on prestigious Madison Avenue in the heart of Carnegie Hill — one of Manhattan’s most exclusive and desirable neighborhoods — 1150 Madison Avenue offers approximately 5,000 SF of prime retail space at a premium price befitting this world-class location. The property is part of a pre-war building constructed in 1923 that features C5-1 zoning, 360 total units, and approximately 22,000 SF of retail area . The building offers 204 feet of frontage on Madison Avenue, providing exceptional visibility and branding opportunities .

Current Tenant: The space was formerly occupied by Butterfield Market, an upscale gourmet grocery and bakery that opened its second location at 1150 Madison Avenue in September 2020 . The market offered freshly baked goods, high-quality produce, prepared foods, sushi, deli items, and soft serve with pistachio sauce . It catered to an affluent clientele including Brooke Astor, John D. Rockefeller, and Bette Davis . The market’s closing presents a rare opportunity for a new tenant to establish a presence on this prestigious corridor.

Key Features:

Prime Madison Avenue / Carnegie Hill Location:

• Situated on Madison Avenue, one of the world’s most prestigious luxury retail corridors, known as the “Gold Coast” of shopping
• Located in the heart of Carnegie Hill — one of the Upper East Side’s most desirable, family-friendly, and affluent neighborhoods, known for its pre-war architecture, tree-lined streets, strong sense of community, and proximity to Central Park and Museum Mile
• Just steps from Central Park (entrance at 86th Street and Fifth Avenue), Museum Mile (The Met, Guggenheim, Neue Galerie), and some of the city’s best dining, shopping, and culture
• Surrounded by luxury flagships including Damiani Beautique, Roberto Cavalli, Chloe, and Emporio Armani
• Short walk to Fifth Avenue luxury shopping, Lexington Avenue everyday conveniences, and the 86th Street transit hub

High-Traffic, Affluent Corridor:

• Madison Avenue is New York’s premier luxury retail corridor, drawing affluent residents, international shoppers, fashion professionals, and tourists
• The area is known for its strong daytime foot traffic from residents, museum visitors, and luxury shoppers, plus strong evening and weekend traffic from the area’s acclaimed restaurants and cultural institutions
• Approximately 5,000 SF of retail space provides flagship-scale presence with 204 feet of frontage

Spacious & Flexible Retail Layout – 5,000 SF:

• 5,000 SF of generous retail space — ideally sized for a luxury flagship, gourmet market, art gallery, showroom, or experiential retail concept
• 204 feet of frontage on Madison Avenue — providing exceptional visibility and branding opportunities
• Located in a pre-war building constructed in 1923 with C5-1 zoning (permitting single-family, multi-family, commercial, and industrial use)
• The building features 360 total units and approximately 22,000 SF of retail area, with the building’s retail spaces situated in a high-end, high-traffic corridor
• At $24 per square foot, this price reflects the premium nature of this prime Madison Avenue location — competitive for this world-class retail corridor

Excellent Transit Access:

• Moments from the 86th Street subway station (4, 5, 6) — a 5-minute walk — providing direct access to the entire East Side of Manhattan and Grand Central Terminal
• Short walk to the 86th Street station (Q) on Second Avenue, providing access to the Second Avenue Subway
• Multiple bus routes serve Madison Avenue, Fifth Avenue, and 86th Street (M1, M2, M3, M4, M5, M86-SBS, M79-SBS, M101, M102, M103)
• Convenient for commuters to Midtown, the Financial District, and beyond

Prestigious, High-Spending Customer Base:

• Local residents — Carnegie Hill is home to some of New York City’s wealthiest and most influential residents, including finance executives, philanthropists, celebrities, doctors, and old-money families
• Luxury shoppers — Madison Avenue attracts a discerning, high-spending clientele who value quality, craftsmanship, exclusivity, and personalized service
• Museum visitors — millions of annual visitors to Museum Mile (The Met, Guggenheim, Neue Galerie) generate foot traffic, particularly on weekends and holidays
• Private school parents — the concentration of elite private schools in the area generates daily foot traffic from parents with significant disposable income
• Ideal for businesses such as:
• Luxury fashion or accessories flagship
• Gourmet grocery or specialty food market
• Contemporary art gallery
• Experiential retail or brand flagship
• Showroom or design studio (fashion, home, tech)
• High-end jewelry or watch showroom
• Prestige beauty or fragrance concept store
• Luxury home furnishings or interior design showroom

Highlights:
✔ 5,000 SF of prime retail space on Madison Avenue in Carnegie Hill
✔ $120,000/month — premium location at $24 per square foot
✔ 204 feet of frontage on Madison Avenue — exceptional visibility
✔ Steps from Central Park, Museum Mile (The Met, Guggenheim), and Fifth Avenue luxury shopping
✔ Surrounded by luxury flagships (Damiani, Roberto Cavalli, Chloe, Emporio Armani)
✔ Surrounded by historic townhouses, pre-war co-ops, and elite private schools
✔ Ultra-affluent, sophisticated, old-money local customer base plus cultured international tourists
✔ Excellent transit access — 4, 5, 6, Q trains and multiple bus routes
✔ Former home of Butterfield Market — upscale gourmet grocery serving affluent Upper East Side clientele

Conclusion:

1150 Madison Avenue offers a rare and exceptional opportunity for luxury brands, gourmet markets, art dealers, and discerning retailers seeking a flagship retail presence on one of the world’s most coveted shopping addresses — Madison Avenue in Carnegie Hill. With approximately 5,000 SF of flexible, high-ceiling space, a prime location in the heart of the Upper East Side’s luxury retail corridor, 204 feet of frontage on Madison Avenue, and access to an ultra-affluent, sophisticated, and loyal customer base of residents, museum patrons, and luxury shoppers, this property is perfect for luxury boutiques, gourmet markets, art galleries, showrooms, or experiential retail concepts looking to establish a distinguished presence on Madison Avenue in one of Manhattan’s most exclusive neighborhoods — at a premium price befitting this world-class location.

Contact us today to schedule a private tour and secure this premier Carnegie Hill retail space!