Grand Central

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  • 87 E 42nd St New York City New York 10017 United States
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1REC's Take
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1REC's Take
Pros

✔ Major transportation hub ✔ Iconic architecture and landmark ✔ High foot traffic, excellent retail opportunities

Cons

✘ Extremely crowded ✘ Expensive retail rents ✘ Limited residential options

Shopper Profile

✦ Commuters: Traveling through the major transit hub ✦ Tourists: Visiting iconic landmarks ✦ Preferences: Quick dining, convenience stores, retail

About Location
Not just a transit hub but an architectural marvel, Grand Central draws both commuters and admirers. Its majestic interiors house a plethora of high-end shops, eateries, and the iconic Oyster Bar. With a daily flux of professionals and tourists, surrounding retail is premium, and rents reflect this centrality. The area is largely dominated by institutional landlords with a sprinkling of long-time local ones.
Trade Area Summary

Basic Demographics

Median Household Income: $111,240
Consumer Expenditure: $46,801,653,990
Population: 1,133,559
Daytime Population: 2,283,990
Source Notes: Data reflects 20 minute drive times as of Q3 2023 (Experian) and is provided by Dallimore & Co, a boutique advisory firm specializing in growth strategy, real estate solutions, and M&A for specialty retail and consumer brands.

Household Segment Breakdown

Segment #1: G – Educated Urbanites (80%)
Segment #2: A – Ultra Wealthy Families (14%)
Segment #3: H – Young Professionals (4%)
All Other Segments: 2%

Source Notes: Segment data reflects 0.25mi radius and is provided by Spatial.ai, an AI-Powered segmentation platform for retail marketers.

Occupancy
Tenant Sales per Square Foot: $1,500
Occupancy Rate: 95%
Anchor Tenants: Apple Store, Michael Jordan’s Steakhouse
Tenant Rent/Sales Ratio (%): 13.3% – 26.7%
Rent $ / Visitor: $16.67 – $33.33
Source Notes: Data sourced from public and private records.
Destination Rents
Average Rent (psf): $129
Median Rent (psf): $108
Rent Range (psf): $108-$127
Rent Variability: High
Source Notes: Data provided by Retail by MONA, a New York based brokerage firm.
Know Before You Go
Preferred ISP(s)
Spectrum, Verizon Fios
Estimated Permit Timeline (weeks)
8-12
Landmarks Risk
High
Union Labor Disharmony Likelihood
High
Recommended Vendors' Links 🔗

Local Broker: Retail by MONA

Building Surveyor: Be Featured! Contact Us

Permit Expeditor: Rizzo-Brookbridge

Licensed Architect: Prose Architecture

Store Designer: Be Featured! Contact Us

Real Estate Attorney: Be Featured! Contact Us

General Contractor: Be Featured! Contact Us

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MSA: New York-Newark-Jersey City NY-NJ-PA
Address: 87 E 42nd St
New York City
New York
10017
United States
Place Tags: NYC
Website
Retail Type: Transportation Hubs

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