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Rent/Lease Apartment 242-246 Madison Ave

$ / SF SF Monthly Rent

Nearby Sublease office Spaces for Rent

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Type of Space Class A/month Class B/month Class C/month
Windowed office/person $ 2100 $ 3027 $ 775
Interior office/person $ 1350 $ 2527 $ 525
Team Rooms $ 10100 $ 9777 $ 5025
Suites $ 20100 $ 13777 $ 7025

Nearby office Spaces for Rent

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Fifth Ave & East 38th Street $ 44
3,800
$ 13,933
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Retail Spaces for Rent at 242-246 Madison Ave

Rent Retail 242-246 Madison Ave

$ / SF SF Monthly Rent
$ 24
6,000
$ 12,000

Rent Medical Space at 242-246 Madison Ave

Tenant Broker’s Perspective: Return-to-office mandates are driving up rental prices at 242-246 Madison Ave. This trend is projected to continue. Opportunities for subleases remain available at 242-246 Madison Ave and in the nearby Bryant Park neighborhood.
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242-246 Madison Ave nyc
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242-246 Madison Ave Property Overview

Building Address: 242-246 Madison Ave, New York NY 10016
Building Name: Murray Hill Plaza
Zip Code:10016
Neighborhood:Bryant Park
Borough:Manhattan
Stories:0
Year Built:1916
Building Class:B

242-246 Madison Avenue, located in the heart of Manhattan's Murray Hill neighborhood, is home to the historic Murray Hill Plaza. This building, situated at the southwest corner of Madison Avenue and East 38th Street, reflects a momentous period in New York City's architectural and commercial development.

Originally built in 1930, the structure reflects the era's architectural styles and has since been integrated into the vibrant fabric of the neighborhood. The building has housed various businesses over the years, including the corner store at 244 Madison Avenue, which was formerly occupied by the Moonstruck Restaurant for nearly two decades.

The area itself is steeped in history, with significant cultural and commercial developments contributing to its evolution. The building's construction during the early 20th century aligns with a broader period of urban growth in New York City.

Today, 242-246 Madison Avenue remains a significant landmark in the Murray Hill neighborhood, offering a glimpse into the city's rich past while continuing to play a role in its contemporary landscape.

242-246 Madison Ave, Manhattan, NYC

Address: 242-246 Madison Ave, New York, NY 10016

Building Details

  • Common Names: Murray Hill Plaza
  • Property Type: Cooperative/Multifamily
  • Built: 1916-1930 (sources vary)
  • Size: 142,836 sqft total
  • Units: 180 apartments
  • Features: Hi-rise with doorman, roof terrace, elevator, laundry
  • Neighborhood: Bryant Park/Murray Hill area
  • Notable Retail: Former Moonstruck Restaurant space (2,500-8,500 sqft available)

Key Characteristics

  • Structure: Cooperative building with retail at street level
  • Zillow Data: $279/sqft price estimate (residential)
  • Rent: ~$3,825/mo (Zestimate)
  • Class: B office space classification

Building Amenities at 242-246 Madison Ave:
  • 24-hour Doorman
  • Controlled Access
  • Laundry Facilities
  • Property Manager on Site
  • Rooftop Terrace
  • Elevator
  • Maintenance on Site
  • Public Transportation Nearby

242-246 Madison Ave, Manhattan, NYC

Office Tenants Rented / Leased

The property at 242-246 Madison Avenue is a high-rise multifamily cooperative building totaling approximately 142,836 square feet. It includes 180 units and offers various amenities such as 24-hour access, controlled access, laundry facilities, a doorman, elevator service, on-site property management, and public transportation connectivity.

The corner retail space at 244 Madison Avenue, formerly occupied by Moonstruck Restaurant for 17 years, is fully built out with venting and a storage mezzanine suited for food preparation, located at the southwest corner of Madison and 38th Street.

The building serves primarily as a cooperative residential property but also leases retail spaces at street level with features suitable for restaurant or retail tenants.


Internet Providers at 242-246 Madison Ave, Manhattan

  • Verizon Fios: High-speed fiber starting at 300 Mbps

Additional options likely include cable providers like Spectrum or Astound Broadband powered by RCN. Contact local providers for service availability and plans.


242-246 Madison Avenue in Manhattan, NYC, offers convenient access to several transportation options. It is near key cross streets and public transit hubs, including:

  • Subway Lines: 4, 5, 6, 7, and the 42 St Shuttle.
  • Nearest Subway Stops: 33 Street (4, 6 Line), Grand Central-42 St, and 5 Avenue-Bryant Park (7 Line).
  • Bus Routes: BM2, M42, M55, QM34, QM40, QM42, X27, X28, X37, X38.
  • Proximity to Major Stations: Grand Central Terminal and its related branches.

The area is highly walkable and bikeable, providing easy access to various parts of Manhattan.


Innisfree Mergers and Acquisitions Testimonial

Innisfree Mergers and Acquisitions testimonial
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Tenant Representation: Optimal Spaces acts exclusively as a "Tenant Broker," only representing tenants, never landlords.
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Unbiased Service: Avoiding conflicts of interest, they provide impartial service, showing a wider range of properties and negotiating the best price.
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Comprehensive Process: Agents guide clients end-to-end, offering market surveys, floor plans, pricing expectations, and industry contacts.
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Cost Savings: They negotiate rental price and identify/abate "hidden costs."

Why Optimal Spaces –
Tenant Broker

  • No fee for clients renting space.
  • We work for YOU, not the landlord.
  • Save 15–20% on your business costs.
  • Save 100–200 hours of research.
  • Access to all available spaces.
  • Specialized real estate expertise.

Alone or with other broker

  • Miss deals and hard-to-find spaces.
  • Potential conflict of interest (often represent landlords).
  • Only 10% of available spaces are online.
  • Lack of specialized expertise.
  • May not get the best terms or uncover hidden costs.
Why Use a Tenant Broker: Your Advocate in Commercial Real Estate
1. The Crucial Distinction: Whose Side Are They On?
Landlord Rep (Listing Agent) — Fiduciary Duty: Landlord. Highest rent, best terms for landlord.
Tenant Rep (Tenant Broker) — Fiduciary Duty: Tenant Only. Lowest rent, best terms for tenant. Levels the playing field.
2. It Almost Always Costs You Nothing
3. Access to “Hidden” Inventory
4. Negotiating Beyond Base Rent
Landlord pays the broker fee — free expert representation for the tenant.
Access to hidden inventory: off-market listings, subleases, and future availabilities via broker databases and networks.
Negotiating beyond base rent: free rent, TI allowance, OPEX caps, and lease flexibility for renewal or expansion.
5. Time Savings & Process Management
6. Mitigating Risk (the “Gotchas”)
Tenant broker handles searching, scheduling, and RFPs — your outsourced real estate department with curated options and timeline management.
Mitigating risk: spotting pitfalls in LOI and lease such as restoration clauses and holdover penalties.
Summary: Don’t rely on the landlord’s agent. A tenant broker is your advocate, provides better data, negotiates a complete package, and typically costs you nothing.
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