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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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

Successful Retail Uses:
Fine 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.
Household Income in Trade Area: $125,000
Retail Sales in Trade Area: $1.65 billion
Population in Trade Area: 200,000
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 (relative cost of the foot traffic): $37.5 – $75
Other Notes: Data sourced from public and private records.
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Destination Rents
Average Rent (psf): $208
Median Rent (psf): $145
Rent Range (psf): $145-$206
Rent Variability: High
Other 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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Primary Landlord: NYC
Retail Type: Streets & Neighborhoods
Address: 165 E 51st St
New York City
New York
10022
United States
MSA: New York-Newark-Jersey City NY-NJ-PA
Website

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