Commercial Retail Space for Lease – 89 Canal Street, New York, NY 10002
Asking Rent: $14,000 / Month
Size: 1,500 SF
Price per SF: ~$112 / SF annually
Property Type: Retail / Showroom / Specialty Use
Status: Active
Property Overview
89 Canal Street offers approximately 1,500 SF of ground-floor retail space in the highly trafficked Lower East Side / Chinatown corridor. Situated along one of Manhattan’s most well-known commercial streets, the property benefits from heavy pedestrian activity, strong tourism, and dense surrounding residential and business populations, making it an excellent location for retail or showroom concepts.
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Key Features
- Total Size: 1,500 SF
- Asking Rent: $14,000/month ($168,000 annually)
- Price per SF: ~$112 annually
- Use Flexibility: Ideal for boutique retail, specialty goods, apparel, convenience retail, or showroom concepts
- Frontage: Street-level storefront with strong visibility along Canal Street
- Condition: Delivered ready for tenant build-out or light customization
Market Profile
- Target Tenants: Retailers, specialty shops, souvenir or gift operators, apparel brands, and showroom users
- Neighborhood Demand: Canal Street remains a high-traffic retail corridor driven by tourism, nearby transit hubs, and dense residential neighborhoods
- Competitive Advantage: Competitive rent for a prime Canal Street address with strong daily foot traffic and broad consumer exposure
Location Advantages
- Neighborhood: Lower East Side / Chinatown
- Proximity: Bowery, Essex Street Market, SoHo, and Little Italy
- Transit: Served by J, Z, N, Q, R, W, 4, 5, and 6 subway lines nearby
- Foot Traffic: Heavy mix of tourists, commuters, and neighborhood residents throughout the day
Summary
The 1,500 SF retail space at 89 Canal Street provides an attractive leasing opportunity at $14,000/month (~$112/SF annually) in one of Manhattan’s most recognizable retail corridors. With strong visibility, constant foot traffic, and flexible use potential, this property is well suited for retail operators seeking high-volume exposure in Lower Manhattan.
