Retail

Commercial Property for Lease – 495 Third Avenue, New York, NY 10016

Asking Rent: $25,000 / Month
Size: 1,663 SF
Price per SF: ~$180 / SF annually
Property Type: Retail / Restaurant / Medical / Services
Location: Midtown East – Murray Hill / Kips Bay Corridor (10016)
Availability: Immediate

Property Overview

495 Third Avenue presents a 1,663 SF commercial space with strong visibility in Murray Hill / Kips Bay, a dense residential and office submarket in Midtown East. This property is ideal for restaurant operators, boutique retail, medical offices, or wellness/fitness concepts, given the area’s heavy concentration of residents, students, and professionals.

The corridor benefits from consistent foot traffic, medical institutions, and Midtown commuter flow, creating a balanced demand for both essential services and lifestyle tenants.

Key Features

• Total Size: 1,663 SF
• Asking Rent: $25,000/month ($300,000 annually)
• Price per SF: ~$180 annually
• Use Flexibility: Retail, QSR/restaurant, urgent care, boutique fitness, or professional services
• Frontage: Strong Third Avenue presence with branding opportunity
• Condition: Ready for tenant customization

Market Profile

• Target Tenants: Quick-service restaurants, coffee shops, medical/dental practices, pharmacy, wellness/fitness operators, or neighborhood-serving retail
• Neighborhood Demand: Murray Hill / Kips Bay offers a dense residential base with demand for food, medical, and personal services
• Competitive Advantage: At ~$180/SF, pricing is competitive with Midtown East averages, offering accessibility in a stable corridor

Financial Highlights

• Monthly Rent: $25,000
• Annual Rent: $300,000
• Price per SF: ~$180 annually
• Lease Terms: Direct lease, flexible
• Upside Potential: Ability to capture daily demand from residents, medical professionals, and Midtown workers

Location Advantages

• Neighborhood: Midtown East – Murray Hill / Kips Bay
• Proximity: NYU Langone, Bellevue, and Midtown office towers; residential towers along Third Avenue
• Transit: 33rd Street (6 line), Grand Central access, crosstown buses
• Foot Traffic: Strong daily mix of residents, students, and commuters

Summary

The 1,663 SF commercial space at 495 Third Avenue is a prime Midtown East leasing opportunity, offered at $25K/month (~$180/SF annually). Its Third Avenue frontage, residential density, and medical/office proximity make it well-suited for restaurants, boutique retail, or medical/wellness tenants seeking long-term stability in a high-demand corridor.