Retail Space for Rent NYC

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Retail Space for Rent NYC

Retail Space for Rent NYC: The Basics of Leasing NYC Retail Space 

Retail Space for Rent NYC  is expensive and the location is critical. The first step is determining your budget, the square footage you need, what location you prefer and the potential construction costs, if needed.  Once you have that in mind, experienced brokers at Metro Manhattan Office Space will assist you in navigating the complexities of this market. As you begin your search, here are some tips for leasing New York City retail space.

As a retailer, you want to display your products to their best advantage and where you can draw the most foot traffic.  The first floor or lower level of a commercial building gives you that exposure. A 2nd or 3rd floor is also a good bet if the space has windows facing the street and you can install signage that grabs attention.

Make sure you understand exactly what you’re getting: Manhattan retail or store space generally has very low loss factors  (usable vs. rentable space), which generally range from 3-10%. Manhattan retail space is generally leased in “as is” condition with no landlord work, but landlords may consider offering free rent in lieu of construction.

Prime Locations for NYC Retail Space

The rent for retail stores is driven strictly by the location.  Manhattan retail rental rates vary from $75.00 per square foot all the way up to $2,000.  The higher end of that range is mainly reserved for ground floor space along the ”Gold Coast” located from 50th Street up to 62nd Street, and from Madison to Fifth Avenue.  Rents in this highly desirable area start at $600per square foot. Chic retailers such as Cartier, Barneys, Hermes, Bergdorf Goodman, Fortunoff and Dolce and Gabbana have stores on the Gold Coast.

Manhattan Retail Space is Limited 

With the limited supply of leasable NYC retail space, the market is fiercely competitive. It’s not uncommon to find yourself competing with multiple prospective tenants for the same space. Due to strong demand and limited supply, negotiability on asking rents is minimal and landlord concessions are negligible. Landlords can afford to be selective about the types of businesses who use their buildings and at what terms.

Successfully leasing NYC retail space is often about who you know. Our brokers have years of experience negotiating New York City commercial retail and office space leases We are well-connected and know how to leverage our relationships with landlords, leasing agents and property managers to help your business find just the right space and location.

Alan set us up in a much better space for less than we had been paying.

By far my most pleasant experience with a broker in searching for an office space. Alan listened to our requirements without judgement, and found us what we needed, where we needed it, and at the price point we wanted. Very responsive to emails and quick turnaround time on all matters. Would give more stars if I could!

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Robert Certilman

It is been such a pleasure dealing with Alan from Metro Manhattan Office Space. He is upfront and honest and tries to find the right space to fit our needs. He was very successful in placing us in a building in New York City that was within our budget.

Thank you Alan and staff for your dedication to the success of my business

Andrew DiSimone

Love this guy! Called him on a Friday, from the train going home. He answered to phone himself and we spoke for over 30 minutes! That’s Great Customer Service! It took only two meetings with him to find a great new space. I was highly impressed with his knowledge, insight to my market.
Highly recommend him!