Commercial Property for Lease – 251–253 Fifth Avenue, New York, NY 10016
Asking Rent: $25,000 / Month
Size: 5,000 SF
Price per SF: ~$60 / SF annually
Property Type: Retail / Showroom / Office / Creative
Location: NoMad / Flatiron District (10016)
Availability: Immediate
Property Overview
251–253 Fifth Avenue offers 5,000 SF of highly visible space in the heart of NoMad, one of Manhattan’s fastest-evolving commercial corridors. This property benefits from heavy foot traffic, prestigious Fifth Avenue frontage, and proximity to Madison Square Park and Flatiron’s bustling retail/office hub. The layout and location make it ideal for retail flagships, creative office, design showrooms, or experiential concepts.
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Key Features
- Total Size: 5,000 SF
- Asking Rent: $25,000/month ($300,000 annually)
- Price per SF: ~$60 annually
- Use Flexibility: Retail, office, showroom, gallery, or creative studio
- Frontage: Prominent Fifth Avenue exposure
- Condition: Adaptable floor plan, ready for tenant customization
Market Profile
- Target Tenants: Showrooms, creative offices, design firms, boutique retailers, service-based operators
- Neighborhood Demand: NoMad has become a hub for hospitality, technology, and luxury retail, supported by residential conversions and hotel developments
- Competitive Advantage: At ~$60/SF annually, the property is attractively priced for Fifth Avenue visibility compared to higher rents in Flatiron/Midtown South corridors
Financial Highlights
- Monthly Rent: $25,000
- Annual Rent: $300,000
- Price per SF: ~$60 annually
- Lease Terms: Direct lease; flexible options
- Upside Potential: Affordable entry into a Fifth Avenue address, with strong appreciation potential as NoMad continues its growth trajectory
Location Advantages
- Neighborhood: NoMad / Flatiron District
- Proximity: Madison Square Park, Flatiron Building, Eataly, Midtown South office corridor
- Transit: Steps from 6, N/R/W subways, with easy access to Penn Station and Grand Central
- Foot Traffic: Strong pedestrian presence from office workers, residents, and tourists
Summary
251–253 Fifth Avenue provides a 5,000 SF opportunity at $25K/month (~$60/SF annually), delivering prestige Fifth Avenue frontage at competitive pricing. Positioned in NoMad’s thriving retail and office hub, the property is ideal for showrooms, boutique offices, or experiential retail concepts looking to capture Midtown South’s growing demand.
