New York State, New York City / Manhattan office, store, retail, gallery and restaurant space...

Retail / store space

retailspacetitle.jpg

Longstreet Associates is unusual in that we provide services in all areas of real estate, including retail space / store space for rent in New York City and beyond. This means that we can find tenants both a store site and an office, in any neighborhood.

We know just about every store location that is available here in New York City, and keep on top of average asking and "deal" prices.

We work with clothing designers and fashion tenants, jewelers, book stores, banks, shoe stores, department stores, crystal and china manufacturers, leather goods specialists, stationary stores, watch stores, auction houses, bars and restaurants, and are able to take care of clients throughout the US and abroad, with our own connections and with our referral networks.

Fifth Avenue, Madison Avenue, Park Avenue, Lexington Avenue, Third Avenue, Second Avenue, First Avenue, Avenue of The Americas, Fashion Avenue, Eighth Avenue, Ninth Avenue, Tenth Avenue, Eleventh Avenue, Broadway, 72nd Street, 57th Street, 42nd Street, 34th Street, 23rd Street, 14th Street, Canal Street, Houston Street, Spring Street, Prince Street, Wall Street, Broad Street...wherever you want to be, we can find your perfect retail location--and the price is right now, with lots available and lower rents than we have seen in years. A Manhattan store for rent can be yours...just let us know when you are ready. 

retailspaceimg.jpg

What does store (retail) space go for in New York City?
Manhattan is the second priciest place to lease a store in the world, right after Hong Kong. The average store here leases for $116.00 a square foot, but according to the 11/16/16 New York Post, retail space prices are going down...Landlords should not worry too much, though, as with more than 54 million visitors to the city every year, retail here should continue to thrive. 
 
Summer 2017 retail pricing:
 
Prime Fifth Avenue: Average asking per square foot $3,484 (RD 2017 DB). The top retail deal in 2015 was for Swatch, which paid $35 million per year for 14,700 square feet on 54th and Fifth ($2,380 per square foot). The most expensive lease to date for 2016 is the Bulgari 730 Fith space, which proportedly went for an astounding $5,500 per square foot....but there may have been build out concessions of up to $1,000 a square foot, as was purportedly done for Coach (TTD 7/16). 
Fifth Avenue between 42nd and 49th Street: $1,101 per square foot.
57th Street between Fifth and Madison Avenues: $1,500.
Prime Broadway @ Times Square: $2,179 down from $2,363 (TRD 8/16)
Prime Madison Avenue: $1,644 (REW 5/18/16)
Prime SoHo: Prime Broadway sites: $685 to $760 asking, down from over $1,200...
Flatiron: $200-$300 a square foot (average $308) / Prime Broadway average $390 (REBNY 2016 Retail Report).
Herald Square: $250-$800 a square foot, with the H & M space leasing in the fall of '13 for $1,200 a square foot. Prime 34th Street: $836, down from $1,000 (CO 6/8/16)
Meatpacking: $345 a square foot (RD 2017 DB).
Upper West Side: Prime Columbus average $403 (NYP 11/16/16). Amsterdam and less bust areas should be closer to $100.
Wall Street / Broadway from Chambers to Battery Park: $369 (NYP 11/16/16).
Third Avenue 60th-72nd St.: $175-$300 a square foot.
Lexington Avenue 60th-96th Streets: $125 a square foot.
First-Second Avenues: $100-$200 a square foot.
Court Street (Brooklyn): $200.00 a square foot (REW 1/13/16)
Harlem (West 125th Street): $65-$279 a square foot (NYP 11/16/16).
 
 
 
 
In a 12/15 RD survey of 357 retail spaces south of 60th Street in Manhattan, 69 were priced below $100 a square foot, so there is hope for start-ups, etc., if one is willing to go to the Lower East Side or side streets...
 
Worldwide "top address" retail space pricing: Fifth Avenue from 49th Street to 60th Street : $3,000, Hong Kong / Causeway Bay  $2,878, Paris / Champs Elysees $1,368, London New Bond Street $1,283, Tokyo/ Ginza $1,249, Milan / Via Montenapoleone $1,239 , Sydney / Pitt Street $968 (REW 11/30/16)
 
 The average price for a New York retail condominium is $3,019 per square foot (meaning the store space is purchased by the user and not rented...but one would still need to pay monthly expenses and taxes). A record number was reported in January, 2016 for Chanel's 4,500 139 Spring Street space, which sold for an astounding $112 million, which ends up being $24,888.00 a square foot (NYP, 1/19/16).
 
If you want to open a store here in New York, let Longstreet know, and we can zero in on where you can do the most business at the lowest entry prices. There are plenty of vacancies on every block, and now is the time to open shop.
 
59 East 54th Street, New York, NY 10022 | Tel: 212-980-6285 email: WalterLDeane@aol.com
 
 Equal housing / office and retail space for all