Financial
- Monthly rent: $35,000
- Annual rent: $420,000
- Rent per SF/month: $16.67
- Rent per SF/year: $200.00
- Approximate monthly cost per 1,000 SF: $16,667
- Lease length: To be confirmed / negotiable
The location is the main attraction. West 49th Street benefits from proximity to Times Square, Rockefeller Center, Radio City, Fifth Avenue, major hotels, theaters, and dense Midtown office traffic. For a retailer that depends on tourists, commuters, office workers, or destination traffic, that can justify a materially higher rent than neighborhood-oriented locations.
Compared with 92 Reade Street, this space is significantly more expensive on a normalized basis: $200/SF/year versus approximately $147.69/SF/year. West 49th Street is therefore about 35% more expensive per square foot, while also requiring a much larger absolute commitment of $35,000/month versus $16,000/month.
Compared with 232 Mott Street, the asking basis is essentially identical at $200/SF/year, but West 49th provides 2,100 SF versus 900 SF. The question is therefore whether the larger Midtown footprint can generate enough additional revenue to support the extra $20,000 per month in rent.
Compared with 166 2nd Avenue, West 49th is substantially more expensive per square foot — $200/SF/year versus approximately $142.57/SF/year — but requires a much smaller total monthly commitment and may offer stronger tourist and office traffic.
The 2,100-SF footprint is large enough for a substantial restaurant, flagship store, showroom, wellness concept, experiential retail use, or service business. At this rent level, however, the layout needs to be efficient, and a high percentage of the advertised area should ideally be productive customer-facing space.
I would confirm ground-floor square footage, storefront frontage, ceiling height, signage rights, basement inclusion, HVAC, electrical capacity, loading/delivery access, bathrooms, ADA compliance, and any real-estate-tax or CAM pass-throughs.
For food and beverage use, additional diligence would be important around venting, gas, grease traps, liquor-license feasibility, kitchen infrastructure, occupancy limits, and permitted use.
Overall, 150 West 49th Street is a premium Midtown retail opportunity priced at a premium Midtown rent. At $200/SF/year, it is considerably more expensive than Reade Street and Second Avenue, so the deal only makes sense if the property offers strong visibility, significant pedestrian traffic, and a concept capable of monetizing the Times Square/Rockefeller Center location.
