Pros
Cons
Shopper Profile
Successful Retail Uses:
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.
Household Income in Trade Area: $180,000
Retail Sales in Trade Area: $3 billion
Population in Trade Area: 600,000
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 (relative cost of the foot traffic): $16.67 – $33.33
Other Notes: Data sourced from public and private records.
Average Rent (psf): $129
Median Rent (psf): $108
Rent Range (psf): $108-$127
Rent Variability: High
Other Notes: Data provided by Retail by MONA, a New York based brokerage firm.
Preferred ISP(s)
Estimated Permit Timeline (weeks)
Landmarks Risk
Union Labor Disharmony Likelihood

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