Commercial Investment Property for Lease – 575 Fifth Avenue, New York, NY 10017
Asking Rent: $40,000 / Month
Price per Sq. Ft.: ~$173 / SF (Annualized)
Space Available: 2,771 Sq. Ft.
Lease Type: Commercial / Retail or Office
Location: Midtown Manhattan – Fifth Avenue / Grand Central Corridor
Availability: Immediate
Property Overview
575 Fifth Avenue offers a 2,771 sq. ft. retail/office space in the heart of Midtown East, near Grand Central Terminal and Bryant Park. With prime Fifth Avenue frontage and consistent foot traffic from commuters, professionals, and tourists, the property is ideal for boutique retail, high-end services, or a branded corporate office/showroom.
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Its location places tenants among global retailers, Fortune 500 headquarters, and luxury hotels, delivering both prestige and visibility.
Key Features
- Total Space: 2,771 sq. ft.
- Asking Rent: $40,000 / month (approx. $480,000 annually)
- Price per SF: ~$173 (annualized)
- Frontage: Fifth Avenue visibility with signage opportunities
- Use Flexibility: Boutique retail, showroom, dining, or office
- Condition: Move-in ready / immediate occupancy
Market Profile
- Tenant Opportunities: Fashion boutiques, luxury services, gallery/showroom, or professional offices
- Demand Profile: Fifth Avenue in Midtown East is one of NYC’s premier shopping and business corridors, anchored by luxury brands, international offices, and steady tourist flows
- Comparable Rents: Retail in this corridor averages $150–$225/SF annually, depending on frontage and quality of improvements
Financial Highlights
- Monthly Rent: $40,000
- Annualized Rent: $480,000
- Price per SF: ~$173 (annualized)
- Lease Terms: Negotiable (long-term preferred)
- Upside Potential: Excellent Fifth Avenue positioning at a competitive $/SF rent level compared to larger flagship spaces
Location Advantages
- Neighborhood: Midtown Manhattan – Fifth Avenue / Grand Central corridor
- Transit: Steps from Grand Central Terminal, Bryant Park–42nd Street station (B/D/F/M/7), and multiple bus lines
- Surroundings: Surrounded by luxury retailers, Bryant Park, the New York Public Library, and corporate headquarters
- Foot Traffic: Extremely strong from commuters, professionals, and international visitors
Summary
The 2,771 sq. ft. commercial unit at 575 Fifth Avenue offers a premier Midtown location with Fifth Avenue visibility at $40,000/month (~$173/SF annualized). With excellent commuter access, a prestigious corridor address, and steady traffic, the space is well-suited for boutique retail, galleries, or professional offices seeking a high-profile Manhattan presence.
