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.
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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.
