Commercial Retail Space for Lease – 59 West 31st Street, New York, NY 10001

Asking Rent: $15,000 / Month
Size: ~600 SF
Price per SF: ~$300 / SF annually
Property Type: Retail / Food & Beverage / Service / Boutique Concept
Location: Midtown South – Herald Square / Koreatown (10001)
Availability: Immediate

Property Overview

59 West 31st Street offers 600 square feet of prime, high-visibility retail space perfectly positioned between Herald Square and Koreatown, two of Manhattan’s busiest commercial hubs. With massive foot traffic from commuters, tourists, shoppers, and local workers, this location is ideal for operators seeking exposure in one of the city’s most active corridors.

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.