Midtown East

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  • 165 E 51st St New York City New York 10022 United States
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1REC's Take
About
Occupancy
Rents
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Vendors
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1REC's Take
Pros

✔ Central location ✔ Prestigious office buildings ✔ High foot traffic

Cons

✘ Congested streets ✘ Expensive real estate ✘ Limited green space

Shopper Profile

✦ Corporate Professionals: High-income office workers ✦ Tourists: Exploring Midtown attractions ✦ Preferences: Upscale dining, luxury retail, business services

About Location
A juxtaposition of corporate skyscrapers and historic landmarks, Midtown East hums with professionals by day and residents by night. The retail caters to both, from high-end boutiques to essential city services. Given its central location, rents can be steep, with a strong presence of institutional landlords.
Trade Area Summary

Basic Demographics

Median Household Income: $113,041
Consumer Expenditure: $41,393,002,019
Population: 1,006,624
Daytime Population: 2,076,515
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 (16%)
Segment #3: J – Sunset Boomers (3%)
All Other Segments: 1%

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: $1,100
Occupancy Rate: 95%
Anchor Tenants: Grand Central Terminal, Rockefeller Center
Tenant Rent/Sales Ratio (%): 18.18% – 36.36%
Rent $ / Visitor: $37.5 – $75
Source Notes: Data sourced from public and private records.
Destination Rents
Average Rent (psf): $208
Median Rent (psf): $145
Rent Range (psf): $145-$206
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
Estimated Permit Timeline (weeks)
8-10
Landmarks Risk
High
Union Labor Disharmony Likelihood
Medium
Recommended Vendors' Links 🔗

Local Broker: Retail by MONA

Building Surveyor: DrafterMax

Permit Expeditor: Rizzo-Brookbridge

Licensed Architect: Be Featured! Contact Us

Store Designer: Be Featured! Contact Us

Real Estate Attorney: Be Featured! Contact Us

General Contractor: O'Leary Group

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MSA: New York-Newark-Jersey City NY-NJ-PA
Address: 165 E 51st St
New York City
New York
10022
United States
Place Tags: NYC
Website
Retail Type: Streets & Neighborhoods

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