Top Five Affordable Retail Spaces To Rent In Yorkville
While the business opportunities are abundant, the local retail rents are still cheap.
So, after much ado and media hype, the Second Avenue Subway line is finally open. If the self-promoting MTA train posters are to be believed, this new commute option will bring prosperity to the neighborhood.
Agorafy already examined the implications that the new subway line will have on the local real estate before. It’s a no-brainer, actually—accessibility is in, affordability is out. Before, when the area was known as a subway desert, it also featured cheap real estate. Now, thanks to the Q train, asking prices and rents have already skyrocketed.
This, however, isn’t the case with commercial real estate. Well, retail space prices will go up, too—eventually. But for now, the median asking rent for a retail space in Yorkville is still a surprisingly cheap $122 per square foot. In comparison, the median asking rent for a similar-sized space in the neighboring Upper East Side costs $175 per square foot.
While the rents are still cheap, the business opportunities there are abundant. The new subway line is already increasing the foot traffic in the area dramatically. You know what we are getting at, don’t you? If you are currently on the market for a retail space, now would be the perfect time to look into Yorkville neighborhood. So here comes—Agorafy’s list of top five local retail spaces you can rent right now.
440 square feet | $4,500
600 square feet | $9,000
1,250 square feet | $7,500
950 square feet | $8,500
500 square feet | $3,500
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