Commercial Property for Lease – 502 E 74th Street, New York, NY 10021
Asking Rent: $40,000 / Month
Sale Type: Lease – Retail / Commercial Opportunity
Property Type: Ground-Floor Retail / Restaurant Space
Location: Urban – Upper East Side, Manhattan (10021)
Availability: Immediate
Property Overview
502 E 74th Street presents a 2,400 SF retail/commercial leasing opportunity on the Upper East Side, one of Manhattan’s most established and affluent neighborhoods. Located just off York Avenue, the property benefits from dense residential demand, proximity to medical and institutional anchors, and strong local foot traffic.
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The space’s size and layout make it particularly well-suited for restaurants, boutique fitness, wellness operators, or neighborhood-oriented retailers seeking visibility and stability in a high-income, family-driven community.
Key Features
- Size: 2,400 SF
- Asking Rent: $40,000 / month (~$200 PSF annualized)
- Configuration: Efficient floorplate adaptable for food & beverage, service, or boutique retail
- Frontage: Strong exposure along East 74th Street corridor
- Market Segment: Restaurants, boutique fitness, lifestyle service operators
Market Profile
- Submarket: Upper East Side – one of NYC’s most stable residential-driven retail markets
- Demand Drivers: Affluent households, York Avenue residential density, and proximity to hospitals/medical institutions (Weill Cornell, Memorial Sloan Kettering)
- Target Tenants: Family-oriented restaurants, boutique fitness/wellness brands, specialty grocers, and service operators
- Competitive Advantage: Mid-size footprint in a corridor dominated by smaller retail units, offering scale with local demand stability
Financial Highlights
- Asking Rent: $40,000 / month
- Size: 2,400 SF
- Asking Rent per SF (Annualized): ~$200/SF
- Lease Type: Typically NNN or modified gross (to be negotiated)
- Upside Potential: Strong tenant retention and rent growth due to affluent household base and consistent neighborhood demand
Location Advantages
- Neighborhood: Upper East Side – family-oriented, high-income, and long-established residential district
- Proximity: Near York Avenue, East River esplanade, and leading hospital/medical centers
- Transit: Accessible via Q line at 72nd Street, 6 line at 77th Street, and multiple crosstown bus routes
- Tenant Demand: Strong from restaurants, wellness operators, and lifestyle brands serving the residential population
Summary
The 2,400 SF retail/commercial unit at 502 E 74th Street, Upper East Side is offered at $40,000/month (~$200/SF annually). With its mid-size format, affluent residential base, and proximity to institutions, the property presents an excellent opportunity for restaurants, boutique wellness operators, or service-oriented tenants seeking stability in one of Manhattan’s most established neighborhoods.
