Commercial Property for Lease – 1642 Madison Avenue, New York, NY 10029

Asking Rent: $30,000 / Month
Size: 1,500 SF
Price per SF: ~$240 / SF annually
Property Type: Retail / Medical / Community Use / Boutique Services
Location: Upper Manhattan – East Harlem / Madison Avenue Corridor (10029)
Availability: Immediate

Property Overview

1642 Madison Avenue offers 1,500 SF of commercial space in the heart of East Harlem, directly on Madison Avenue. This property is ideal for retail, boutique medical practices, wellness/fitness, or community-serving tenants seeking a balance of visibility, accessibility, and affordability compared to Upper East Side Madison Avenue addresses.

The surrounding neighborhood is experiencing significant redevelopment and residential growth, creating demand for essential retail, medical, and lifestyle services.

Key Features

• Total Size: 1,500 SF
• Asking Rent: $30,000/month ($360,000 annually)
• Price per SF: ~$240 annually
• Frontage: Madison Avenue exposure with strong community visibility
• Use Flexibility: Retail, boutique medical office, wellness, fitness, or local services
• Condition: Ready for tenant customization

Market Profile

• Target Tenants: Urgent care, dental/medical, boutique fitness, grocery, pharmacy, community services, or lifestyle retail
• Neighborhood Demand: East Harlem has a dense residential base with limited premium retail options, making it attractive for essential and service-based tenants
• Competitive Advantage: Significantly lower $/SF than prime Upper East Side Madison Avenue (which often exceeds $300–$600/SF), while still benefiting from avenue frontage and growth trends

Financial Highlights

• Monthly Rent: $30,000
• Annual Rent: $360,000
• Price per SF: ~$240 annually
• Lease Terms: Direct lease, negotiable
• Upside Potential: Attractive positioning for service-based tenants and local retail as neighborhood demand continues to grow

Location Advantages

• Neighborhood: East Harlem / Madison Avenue corridor
• Proximity: Close to Mt. Sinai Hospital, Central Park North, and 125th Street retail hub
• Transit: 4/5/6 subway lines nearby, multiple bus routes, strong pedestrian and vehicular visibility
• Foot Traffic: Local residents, hospital/medical professionals, and commuter flow

Summary

The 1,500 SF space at 1642 Madison Avenue is a strategic East Harlem retail/medical opportunity, priced at $30K/month (~$240/SF annually). With strong residential density, medical proximity, and redevelopment momentum, it is ideally positioned for essential retail, boutique medical, or lifestyle tenants looking to capture growing neighborhood demand at accessible pricing.