Commercial Investment Property for Lease – 404 Fifth Avenue, New York, NY 10018
Asking Rent: $120,000 / Month
Price per Sq. Ft.: ~$168 / SF (Annualized)
Space Available: 8,552 Sq. Ft.
Lease Type: Commercial / Flagship Retail or Office
Location: Midtown Manhattan – Herald Square / Fifth Avenue Corridor
Availability: Immediate
Property Overview
404 Fifth Avenue offers an 8,552 sq. ft. commercial space in one of Manhattan’s busiest shopping and commuter corridors. Situated steps from Herald Square, the Empire State Building, and Penn Station, this property delivers premium Fifth Avenue frontage and exceptional visibility.
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The space is highly adaptable, ideal for flagship retail, high-profile dining, fashion showrooms, or creative offices, with direct access to millions of tourists, commuters, and Midtown professionals.
Key Features
- Total Space: 8,552 sq. ft.
- Asking Rent: $120,000 / month (approx. $1.44M annually)
- Price per SF: ~$168 (annualized)
- Frontage: Fifth Avenue with strong signage exposure
- Use Flexibility: Retail, showroom, dining, or office
- Condition: Immediate occupancy available
Market Profile
- Tenant Opportunities: Perfect for apparel/luxury retail, experiential dining, or branded showrooms
- Demand Profile: The Herald Square / Fifth Avenue corridor is one of NYC’s most heavily trafficked retail zones, anchored by Macy’s, the Empire State Building, and top global retailers
- Comparable Rents: Fifth Avenue spaces in this submarket typically range from $150–$200/SF annually, depending on frontage and condition
Financial Highlights
- Monthly Rent: $120,000
- Annualized Rent: $1,440,000
- Price per SF: ~$168 (annualized)
- Lease Terms: Negotiable (long-term flagship lease preferred)
- Upside Potential: Prime corridor exposure, consistent international tourist flow, heavy commuter traffic, and long-term retail strength
Location Advantages
- Neighborhood: Midtown Manhattan – Herald Square / Fifth Avenue
- Transit: Immediate access to Penn Station, Herald Square hub (B/D/F/M/N/Q/R/W/1/2/3/6/7 lines), PATH trains
- Surroundings: Macy’s Herald Square, Empire State Building, Bryant Park, major hotels, and Fifth Avenue retail corridor
- Foot Traffic: Exceptionally high, among the busiest in the city
Summary
The 8,552 sq. ft. space at 404 Fifth Avenue represents a premier Midtown flagship retail or showroom opportunity. At $120,000/month (~$168/SF annualized), it combines scale, prestige, and visibility in one of New York’s most iconic commercial corridors. With unmatched commuter and tourist traffic, the property is ideally positioned for anchor retail, dining, or brand tenants seeking long-term presence.
