Retail

Prime Retail Space on Third Avenue – 557 Third Ave, Murray Hill / Kips Bay

Address: 557 Third Avenue, New York, NY, 10016
Price: $30,000/month
Square Feet: 2,919 SF
Type: Retail Space

Property Overview:

Located on Third Avenue in the heart of Murray Hill / Kips Bay — one of Manhattan’s most convenient, centrally located, and vibrant neighborhoods — 557 Third Avenue offers 2,919 SF of spacious retail space at a competitive price point. Ideal for fitness centers, medical and dental practices, urgent care centers, pharmacies, specialty food markets, showrooms, or service-based businesses. Situated between East 36th Street and East 37th Street, this space benefits from strong foot traffic from local residents, medical professionals, office workers, and commuters, with proximity to Grand Central Terminal, NYU Langone, and some of the city’s best dining, shopping, and transit.

Key Features:

Prime Murray Hill / Kips Bay / Third Avenue Location:

• Situated on Third Avenue, a major east side commercial thoroughfare that serves as a retail spine for the Murray Hill and Kips Bay neighborhoods — two of Manhattan’s most convenient, centrally located, and desirable residential and commercial areas, known for their pre-war architecture, tree-lined streets, strong sense of community, and excellent transit access.
• Located between East 36th Street and East 37th Street, placing your business in a high-traffic corridor with constant foot traffic from local residents, medical professionals, office workers, commuters, and shoppers.
• Just steps from NYU Langone Medical Center (First Avenue between 30th-34th Streets), Bellevue Hospital (First Avenue and 29th Street), VA NY Harbor Healthcare System, and Hospital for Joint Diseases (NYU Langone Orthopedic) — creating consistent demand for medical practices, urgent care, pharmacies, and patient-serving retail.
• Minutes from Grand Central Terminal (42nd Street and Park Avenue — a 10-minute walk), Murray Hill’s vibrant dining and nightlife scene (Third Avenue, Lexington Avenue), Koreatown (32nd Street), Herald Square, Madison Square Park, and the East River Esplanade.

Spacious & Flexible Retail Layout – 2,919 SF:

• 2,919 SF of generous retail space — ideally sized for a fitness center, medical or dental practice, urgent care center, physical therapy clinic, pharmacy, specialty food market, showroom, or service-based business.
• Attractive storefront with excellent street-level visibility on Third Avenue, a busy corridor with constant pedestrian and vehicular flow.
• High ceilings and open floor plan with minimal columns, allowing for easy customization to fit various business needs — from fitness equipment and exam rooms to retail displays and checkouts.
• Large windows providing abundant natural light and prime window display opportunities facing Third Avenue’s steady foot traffic.
• Potential for back-of-house space, storage, or office areas depending on configuration.
• At $10.28 per square foot, this represents solid value for retail space in this prime Midtown location.

Medical & Institutional Proximity – A Healthcare Hub:

• Located within easy reach of several major medical institutions:
• NYU Langone Medical Center (First Avenue between 30th-34th Streets)
• Bellevue Hospital (First Avenue and 29th Street)
• VA NY Harbor Healthcare System
• Hospital for Joint Diseases (NYU Langone Orthopedic) (17th Street and Second Avenue)
• This concentration of world-class hospitals creates consistent, high-demand foot traffic from medical professionals, hospital employees, patients, families, and caregivers — all needing nearby medical services, pharmacies, and patient-serving retail.

Excellent Transit Access:

• Close to Grand Central Terminal (4, 5, 6, 7, S) — a 10-minute walk — providing direct access to Metro-North Railroad and multiple subway lines, one of Manhattan’s busiest and most convenient transit hubs.
• Moments from the 33rd Street subway station (6) on Park Avenue and the 34th Street – Herald Square station (B, D, F, M, N, Q, R, W) .
• Short walk to Penn Station (1, 2, 3, A, C, E) , providing LIRR, NJ Transit, and Amtrak connections.
• Multiple bus routes serve Third Avenue, Lexington Avenue, and 36th Street (M15, M34-SBS, M34A, M42, M101, M102, M103).
• Convenient for medical professionals, patients, and families from all five boroughs, Westchester, Long Island, New Jersey, and beyond.

Diverse, High-Demand Customer Base:

• Medical professionals — thousands of doctors, nurses, researchers, and administrators employed at nearby world-class hospitals (NYU Langone, Bellevue, VA, Hospital for Joint Diseases).
• Patients and families — patients seeking treatment at area hospitals, plus their families, create consistent demand for medical practices, urgent care, pharmacies, and patient-serving retail.
• Local residents — dense residential population of Murray Hill, Kips Bay, Gramercy Park, and Midtown East, including young professionals, families, medical professionals, and longtime residents.
• Office workers — thousands of professionals employed in nearby Midtown East corporate offices.
• Commuters — tens of thousands of daily commuters passing through Grand Central Terminal and nearby transit hubs.
• Ideal for businesses such as:
• Fitness center (gym, yoga, Pilates, cycling)
• Medical or dental practice (primary care, pediatrics, dermatology, dentistry, orthodontics)
• Urgent care or walk-in clinic
• Physical therapy or rehabilitation center
• Pharmacy or drugstore
• Specialty food market or grocery
• Showroom or design studio
• Beauty or nail salon
• Coffee shop or cafe (patient and staff-friendly)

Highlights:
✔ 2,919 SF of spacious retail space on Third Avenue in Murray Hill / Kips Bay
✔ $30,000/month — solid value at $10.28 per square foot
✔ Attractive storefront with excellent visibility on a busy commercial corridor
✔ Steps from NYU Langone, Bellevue, VA Hospital, and Grand Central Terminal
✔ Ideal for fitness center, medical/dental practice, urgent care, or pharmacy
✔ High ceilings and open floor plan for flexible layouts
✔ Large windows with abundant natural light
✔ Diverse, high-demand customer base — medical professionals, patients, residents, and commuters
✔ Excellent transit access — 4, 5, 6, 7, S, B, D, F, M, N, Q, R, W, 1, 2, 3 trains, Grand Central, Penn Station

Conclusion:

557 Third Avenue offers a prime opportunity for fitness operators, healthcare providers, and small business owners seeking spacious, well-located retail space in one of Manhattan’s most convenient, centrally located, and vibrant neighborhoods — Murray Hill / Kips Bay, steps from NYU Langone, Bellevue, and Grand Central Terminal. With 2,919 SF of functional, flexible space, a prime Third Avenue location in the heart of a major medical and commercial corridor, and access to a loyal, high-demand customer base of medical professionals, patients, residents, and commuters, this property is perfect for fitness centers, medical and dental practices, urgent care centers, physical therapy clinics, pharmacies, or specialty food markets looking to thrive in a location where healthcare, convenience, and commerce intersect — all at a solid value of just over $10 per square foot.

Contact us today to schedule a private tour and secure this Murray Hill / Kips Bay retail space!