Retail

630 First Avenue, New York, NY 10016 – Murray Hill / Kips Bay
Asking Rent: $30,000/month
Space: 3,600 sq ft
Property Type: Retail (Ground Floor)
Rent per Sq Ft: $8.33/month ($100.00/sq ft annualized)

Property Overview

This 3,600-square-foot retail space at 630 First Avenue is a substantial, large-format opportunity on a key north-south corridor in the densely populated Murray Hill/Kips Bay area. With an asking rent of $30,000 per month, it offers a competitive price per square foot for a significant footprint. This space is ideal for a destination business such as a full-service restaurant, upscale market, boutique fitness center, or entertainment venue that can serve as a major neighborhood anchor, leveraging the area’s mix of young professionals, hospital staff, students, and long-term residents.

Space Highlights

• Large-format ground-floor retail space of 3,600 sq ft with prominent frontage on First Avenue.
• Ample square footage suitable for a full-service restaurant with bar and dining areas, specialty grocery or food hall, large fitness studio (e.g., cycling, climbing, full-service gym), or family entertainment center (e.g., bowling, arcade).
• High visibility on a major avenue with consistent vehicle, bus, and pedestrian traffic.
• Will require a major capital investment and comprehensive build-out, potentially including kitchen ventilation, specialized flooring, significant electrical/plumbing work, and ADA-compliant facilities.
• The size allows for a multi-zone concept, such as a restaurant with private event space or a hybrid retail/experience model.

Location & Neighborhood

• Prime Murray Hill / Kips Bay location on First Avenue between 36th and 37th Streets.
• Situated in a high-density residential neighborhood with significant institutional presence from NYU Langone Medical Center and Bellevue Hospital.
• Serves a diverse customer base of medical professionals, hospital visitors, students from nearby universities, and a large population of young professionals and families.
• Strong daily foot traffic from commuters, residents, and a steady stream of people associated with the medical corridor.
• Excellent transit access via the 6 train at 33rd St and 28th St, and multiple north-south bus lines along First, Second, and Third Avenues.
• Walkable to the Empire State Building, Koreatown, and the East River Esplanade.

Summary

Priced at $30,000/month ($8.33/sq ft/month), this 3,600 sq ft retail space at 630 First Avenue presents strong value per square foot for a large, anchor-sized box in a high-demand residential and institutional neighborhood. The annualized rent of $100 per square foot is efficient for the space’s potential revenue generation. This opportunity is ideal for an experienced operator or well-funded group with a concept capable of becoming a neighborhood destination. Success requires a business model with broad appeal that can serve the daily needs and leisure desires of the local community while attracting customers from the wider area. It’s a chance to secure a legacy-sized location on a key uptown/downtown artery.