Commercial Property for Lease – 221 Madison Street, New York, NY 10002
Asking Rent: $3,500 / Month
Size: 350 SF
Price per SF: ~$120 / SF annually
Property Type: Retail / Service / Boutique Office
Location: Lower East Side / Chinatown (10002)
Availability: Immediate
Property Overview
221 Madison Street offers a 350 SF compact retail or office space in Manhattan’s Lower East Side/Chinatown corridor. With affordable rent and strong visibility in a high-density residential area, the property is well-suited for small service operators, boutique retailers, or professional office users.
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The neighborhood benefits from heavy daily pedestrian traffic, supported by local residents, nearby schools, and access to major downtown corridors.
Key Features
- Total Size: 350 SF
- Asking Rent: $3,500/month ($42,000 annually)
- Price per SF: ~$120 annually
- Use Flexibility: Retail, service shop, boutique office, or quick-service food concept
- Frontage: Street-level exposure on Madison Street
- Condition: Lease-ready; adaptable for tenant build-out
Market Profile
- Target Tenants: Convenience retail, beauty/barber services, boutique office users, or grab-and-go food operators
- Neighborhood Demand: Strong residential density and steady demand for essential services in the LES/Chinatown market
- Competitive Advantage: At ~$120/SF, this is a cost-efficient entry point into a downtown retail corridor compared to SoHo or FiDi spaces
Financial Highlights
- Monthly Rent: $3,500
- Annual Rent: $42,000
- Price per SF: ~$120 annually
- Lease Terms: Direct lease, flexible
- Upside Potential: Affordable size and rent make it attractive for new or first-time operators seeking Manhattan exposure
Location Advantages
- Neighborhood: Lower East Side / Chinatown
- Proximity: East Broadway, Manhattan Bridge, Confucius Plaza, and FiDi access
- Transit: Near East Broadway (F line) and multiple MTA bus routes
- Foot Traffic: Consistent from residents, students, and visitors
Summary
The 350 SF space at 221 Madison Street provides an affordable downtown leasing opportunity at $3,500/month (~$120/SF annually). Compact yet visible, it’s a strong option for boutique retailers, service shops, or small professional tenants seeking to operate in the Lower East Side/Chinatown corridor.
