Retail

335 East 27th Street, New York, NY 10016 – Kips Bay / Rose Hill
Asking Rent: $20,000/month
Space: 587 sq ft
Property Type: Retail (Ground Floor)
Rent per Sq Ft: $34.07/month ($408.84/sq ft annualized)

Property Overview

This 587-square-foot retail space at 335 East 27th Street commands an extremely high per-square-foot price, suggesting a highly specialized, high-margin, or medical/professional use rather than traditional retail. With an asking rent of $20,000 per month, it is likely positioned for a business such as a medical office (dermatology, aesthetics, dentistry), high-end boutique salon, exclusive specialty boutique, or niche professional service that requires a discreet yet accessible ground-floor presence. The compact size and premium cost indicate a business model reliant on high-value appointments or low-volume, high-margin sales.

Space Highlights

• Compact ground-floor retail/professional space of 587 sq ft, likely with direct street access.
• Extremely high price per square foot points to a specific, non-traditional retail use with significant revenue per transaction.
• Suitable for a medical/wellness office (requiring specific build-out and permits), an upscale salon/spa, a luxury pet groomer/veterinary clinic, or a high-end specialty boutique (e.g., custom tailoring, luxury watch repair).
• Likely requires a full, high-quality custom build-out to suit the technical needs of the intended use (e.g., plumbing for sinks, medical-grade electrical, privacy partitions).
• The small size prioritizes efficiency and a premium, intimate customer experience over inventory storage or walk-in traffic volume.

Location & Neighborhood

• Located on East 27th Street between 1st and 2nd Avenues in the Kips Bay / Rose Hill area.
• Situated in a dense residential neighborhood with significant institutional presence, including NYU Langone Health campuses and Bellevue Hospital immediately to the south.
• Directly serves a large population of medical professionals, hospital staff, students, and local residents.
• Foot traffic is consistent but not of the tourist or high-volume shopping district variety; clientele is likely destination-based.
• Excellent transit access via the 6 train at 28th St and 33rd St, and multiple bus lines along 1st, 2nd, and 3rd Avenues.
• Walkable to Gramercy, Murray Hill, and the medical corridor along 1st Avenue.

Summary

Priced at $20,000/month ($34.07/sq ft/month), this 587 sq ft space at 335 East 27th Street is one of the most expensive small retail listings on a per-square-foot basis. The annualized rent of $409 per square foot is extraordinary and only justifiable for a business with exceptionally high gross margins or revenue per customer, such as specialized medical aesthetics, elective procedures, or exclusive professional services. This is not a space for a café or standard boutique. It is a strategic location for a service-based business that benefits from ground-floor visibility and accessibility in a neighborhood with a high concentration of potential clientele (medical community, affluent residents). The tenant must have a proven, lucrative business model to sustain this level of occupancy cost.