Rent a Retail Space in Upper East Side, NY

Why rent a temporary retail space in Upper East Side, NYC ?

A Temporary commercial space can open for a single day or several weeks, even months. A flexible space rental does not commit you with a long term lease and allows you to offer a unique consumer experience, connect with customers or validate the potential of a New York neighborhood while benefiting from great freedom.

The neighborhood of Upper East Side, NYC is the perfect place to organize your art gallery. It is one of the busiest districts of New York with a good foot traffic, a clientele of young shoppers, and surroundings full of restaurants and bars.

The areas of 5th Avenue, Madison Avenue, Park Avenue, Lexington Avenue and 59th Street especially attract retail fans.

The district of Upper East Side, NYC, which draws a crowd eager for discovering new products, is full of unique gallery-ready venues available for rent from a few days to a couple of months: apartments, old warehouses, etc. Exposed stone? Exposed stone columns? Hardwood floors? Whether you are looking for elegant, classic or comfortable spaces, you are guaranteed to find on Storefront the most appropriate flexible venue for the event you are organizing.

What are the Most Sought-After Locations for Leasing Commercial Space in the Upper East Side?

The Upper East Side is known as the home of some of the country's most wealthy individuals, but it's also the epicenter of vibrant commercial locations such as Madison Avenue, Park Avenue, and Fifth Avenue. These areas feature plenty of space for rent, and numerous big brands have moved their flagship stores to these corridors.

Upscale shopping at stores like Barneys, Alexander McQueen, Valentino, and Ralph Lauren all reside in this area, and pop up showcases draw in fashion-forward crowds seeking high-end and culturally rich experiences.

Commercial spaces available in this area feature various ultra-modern designs and even raw spaces that you can transform yourself. Nearby Midtown is an excellent budget-friendly area with large enough commercial spaces for flagship locations or smaller spaces nestled between larger iconic stores.

Madison Avenue, in particular, has experienced a clear shift towards opening more retail space, and although it was once home to ultra-luxury brands such as Hermes, Prada, Cartier, and Gucci, thanks to the decreased popularity of brick-and-mortar stores, you can now find more affordable investment properties.

The average price of rent and sale prices on Madison Avenue have dropped significantly in the last year, and despite the luxury stores still residing on Park Avenue and Fifth Avenue, rents have decreased by as much as 25% there as well.

How Much Does it Cost to Rent a Shop in the Upper East Side?

Since the onset of the Covid pandemic, historic declines in prominent retail corridors of NY have created massive impacts, including reductions in rent prices that range from 1% to 25%. This range is unprecedented, and these areas will need years, not just months, to recover.

Rental prices along the "Gold Coast" from Madison to Fifth Avenue currently see rental rates that range from $75 per square foot to $2,000 per square foot. The higher end of this range is typically the price for ground-floor spaces, but second and third-floor spaces often pop up.

You can expect a highly desirable retail space to start at $600 per square foot, with additional locations spread out from 50th Street to 62nd Street.