Pros
Cons
Shopper Profile
Successful Retail Uses:
The heartbeat of NYC’s commuter scene, Penn Station serves as a crucial transit crossroad. Amidst the rush, it offers an array of quick-service restaurants, convenience shops, and essential services. The nearby retail landscape caters to the daily commuter, with rents being competitive given the station’s importance. It’s a blend of corporate entities and some long-established local landlords in the vicinity.
Household Income in Trade Area: $160,000
Retail Sales in Trade Area: $1.8 billion
Population in Trade Area: 500,000
Tenant Sales per Square Foot: $1,200
Occupancy Rate: 90%
Anchor Tenants: Moynihan Train Hall, Amtrak
Tenant Rent/Sales Ratio (%): 12.5% – 29.2%
Rent $ / Visitor (relative cost of the foot traffic): $9.5 – $22.75
Other Notes: Data sourced from public and private records.
Average Rent (psf): $106
Median Rent (psf): $106
Rent Range (psf): $106-$106
Rent Variability: Low
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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