The compact, efficient layout makes it especially attractive for food concepts, beverage brands, grab-and-go retail, boutique operators, and national chains seeking a Midtown South flagship presence.
Key Features
- Total Size: Approx. 600 SF
- Asking Rent: $15,000/month ($180,000 annually)
- Price per SF: ~$300 annually
- Use Flexibility: Retail, café, dessert shop, bubble tea, quick-serve food, salon, wellness, phone/tech store, or boutique services
- Frontage: Excellent West 31st Street exposure
- Condition: Ideal for small-format retail or food service; customizable
- Neighborhood: Heavy pedestrian activity day & night
Market Profile
Target Tenants:
- Food & beverage (coffee, juice, bakery, bubble tea, grab-and-go concepts)
- Beauty & wellness (nails, spa, barbershop, lash studio)
- Tech/phone retail
- Boutique apparel or accessory brands
- Convenience retail
- Specialty dessert or snack concepts
- Service-oriented operators
Neighborhood Demand:
Midtown South / Koreatown is one of Manhattan’s densest consumer markets—anchored by Penn Station, Empire State Building, Herald Square shopping, and a 24/7 hospitality district. Small retail spaces here lease quickly due to unmatched foot traffic.
Competitive Advantage:
At $15,000/month for 600 SF, this location provides strong value for a storefront just steps from Herald Square—an area where many spaces exceed $350–$450/SF annually.
Financial Highlights
- Monthly Rent: $15,000
- Annual Rent: $180,000
- Price per SF: ~$300 annually
- Lease Terms: Direct lease; flexible options available
- Additional Costs: Utilities & possible CAM/tax pass-throughs (subject to landlord)
Location Advantages
Neighborhood: Midtown South – Herald Square / Koreatown
Proximity:
- Steps from Herald Square, Empire State Building, and Koreatown food corridor
- 2 minutes to Macy’s, Penn Station, and 34th Street retail
- Surrounded by hotels, offices, and residential buildings
Transit:
- B/D/F/M, N/Q/R/W at Herald Square
- 1/2/3, A/C/E, LIRR, NJ Transit at Penn Station
- Heavy bus and pedestrian flow
Foot Traffic:
- Extremely high—tourists, commuters, office workers, hotel guests
- Major destination corridor for dining, retail, and nightlife
Summary
The 600 SF retail space at 59 West 31st Street offers unbeatable exposure in Midtown South, priced at $15,000/month (~$300/SF annually). Surrounded by nonstop foot traffic from Herald Square and Koreatown, this is an ideal opportunity for restaurants, cafés, dessert shops, boutique retailers, and service operators seeking a premier location in one of Manhattan’s most active districts.
