201 East 36th Street - Murray Hill Terrace Condominiums
Retail
Marketing description
Cushman & Wakefield (“C&W”) has been exclusively retained to offer for sale the retail condominium at 545 Third Avenue (the “Property”), located at the northwest corner of Third Avenue and East 36th Street in the heart of the Murray Hill neighborhood in New York, NY. The Property boasts exceptional visibility on a prominent corner along one of Midtown Manhattan’s highest traffic retail corridors, comprising approximately 12,114 square feet, including 8,400 square feet at grade and 3,714 square feet on the lower level. The vacant retail condominium offers a rare opportunity for both investors and users to acquire a prominent corner asset with immediate occupancy potential and significant long-term value creation through leasing or repositioning.
545 Third Avenue features 60 feet of frontage along Third Avenue, providing excellent visibility and accessibility for retailers, medical users, showrooms, or service providers. The flexible layout and corner positioning make the Property well-suited for a wide range of tenancy profiles seeking to capitalize on the area’s dense residential and office population, steady foot traffic, and proximity to major transportation hubs. The neighborhood is home to a dynamic mix of residential towers, boutique offices, national retailers, and medical institutions. Just three blocks north is Grand Central Terminal, providing access to the 4, 5, 6, 7, and S subway lines as well as Metro-North rail service, enhancing the Property’s regional accessibility.
Murray Hill continues to benefit from sustained residential development, an expanding office population, and consistent demand for quality retail space. The area’s central Midtown location, combined with its excellent transit connectivity and growing residential density, positions 545 Third Avenue as a highly desirable retail opportunity. This offering presents a unique chance to acquire a vacant, corner retail condominium with immediate user or investment potential in one of Manhattan’s most wellestablished and accessible neighborhoods.
Investment highlights
EXCEPTIONAL USER OR INVESTOR OPPORTUNITY
• The Property is being delivered 100% vacant, offering immediate occupancy potential for an owner-user or the ability to execute a leasing or repositioning strategy
• Highly visible corner retail condominium located along one of Midtown Manhattan’s key north-south corridors — Third Avenue at East 36th Street
• Flexible layout and prominent frontage make the space ideal for a wide range of divisions and uses including retail, showroom, medical, or service tenants
• With limited high-quality retail inventory in this Midtown South corridor, the Property offers a rare opportunity for investors to create long-term value through strategic leasing
IDEAL PHYSICAL ATTRIBUTES
• ±8,400 gross square feet of above-grade space
• 60’ of frontage along Third Avenue at the corner of East 36th Street, providing exceptional visibility to vehicular and pedestrian traffic
• Highly efficient layout with multiple points of access, ideal for either single-tenant or multi-tenant configuration
• Prominent corner positioning offers branding potential and strong street presence
• 10’ high ceilings on both levels and wide column spacing provide excellent optionality for retail, showroom, medical, or other commercial uses
PRIME MIDTOWN SOUTH / MURRAY HILL LOCATION
• Centrally located in Murray Hill, one of Manhattan’s most established mixed-use neighborhoods
• Steps from Grand Central Terminal, providing direct access to the 4, 5, 6, 7, and S subway lines, Metro-North trains, and extensive regional transportation connections
• Dense daytime population driven by surrounding office towers, medical institutions, and hotel developments
• The neighborhood continues to attract medical, retail, and professional users seeking a central Manhattan location with strong foot traffic and excellent transit connectivity
SIGNIFICANT MIDTOWN RETAIL MOMENTUM
• Midtown South has seen a steady uptick in retail leasing activity as office workers and residents return, creating increased demand for high-quality retail spaces
• National and local retailers continue to seek well-positioned corner locations with strong visibility and accessibility
• The Property benefits from being located along Third Avenue, which serves as a major commercial corridor for office tenants, medical users, and service retailers alike
ACCESS TO AFFLUENT CUSTOMER BASE & DAYTIME DEMAND
• Murray Hill is home to a dense residential population with strong purchasing power, complemented by a steady daytime workforce from surrounding office buildings
• Close proximity to major employers, hospitality, and medical facilities enhances the area’s seven-day-a-week demand for retail services
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