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Rent/Lease Office 587 Fifth Ave

$ / SF / Yr SF Monthly Rent
Negotiable

Nearby Sublease office Spaces for Rent

Address $ / SF / Yr SF Monthly Rent
W 57th St & Avenue of the Americas $ 111.5
25,000
$ 232,291
Avenue of the Americas & West 55th Street $ 64
7,300
$ 38,933
Madison Ave & East 54th Street $ 80
31,000
$ 206,666
Madison Ave & East 60th Street $ 89
9,500
$ 70,458
Madison Ave & East 51st Street $ 75
8,100
$ 50,625
Avenue Of The Americas & West 47th Street $ 58
10,000
$ 48,333
Park Ave & East 57th Street $ 160
10,800
$ 144,000
Madison Ave & East 59th Street $ 99
8,300
$ 68,475
E 53rd St & Fifth Avenue $ 79
12,200
$ 80,316
Fifth Ave & West 52nd Street $ 130
10,300
$ 111,583
Address $ / SF / Yr SF Monthly Rent
Park Ave & East 54th Street $ 85
5,600
$ 39,666
Fifth Ave & East 56th Street $ 85
4,400
$ 31,166
Lexington Ave & East 50th Street $ 54
4,000
$ 18,000
Avenue of the Americas & West 55th Street $ 62
6,200
$ 32,033
Fifth Ave & West 52nd Street $ 78
4,400
$ 28,600
Madison Ave & East 49th Street $ 69
5,500
$ 31,625
Address $ / SF / Yr SF Monthly Rent
Madison Ave & East 49th Street $ 76.5
2,200
$ 14,025
Address $ / SF / Yr SF Monthly Rent
Address $ / SF / Yr SF Monthly Rent
E 60th St & Madison Avenue $ 65
4,200
$ 22,750
W 57th St & Avenue of the Americas Negotiable
5,100
Negotiable
Address $ / SF / Yr SF Monthly Rent
W 57th St & Avenue of the Americas Negotiable
2,300
Negotiable
Address $ / SF / Yr SF Monthly Rent
Address $ / SF / Yr SF Monthly Rent
Address $ / SF / Yr SF Monthly Rent
Type of Space Class A/month Class B/month Class C/month
Windowed office/person
Interior office/person
Team Rooms
Suites

Nearby office Spaces for Rent

Address $ / SF / Yr SF Monthly Rent
W 57th St & Avenue of the Americas $ 105
15,800
$ 138,250
Fifth Ave & East 55th Street $ 157.5
19,300
$ 253,312
Park Ave & East 58th Street $ 125
11,300
$ 117,708
Address $ / SF / Yr SF Monthly Rent
Third Ave & East 49th Street $ 50
4,300
$ 17,916
Park Ave & East 54th Street $ 79.5
3,500
$ 23,187
Park Ave & East 58th Street $ 125
4,000
$ 41,666
Third Ave & East 49th Street $ 73
3,800
$ 23,116
Madison Ave & East 55th Street $ 65
5,000
$ 27,083
Address $ / SF / Yr SF Monthly Rent
Third Ave & East 49th Street $ 60
2,000
$ 10,000
E 52nd St & Lexington Avenue $ 64
2,400
$ 12,800
Madison Ave & East 55th Street $ 76
2,300
$ 14,566
Madison Ave & East 48th Street $ 70
1,800
$ 10,500
Fifth Ave & West 47th Street $ 73
1,900
$ 11,558
Avenue of the Americas & West 51st Street $ 84
2,200
$ 15,400
Rockefeller Plz & West 50th Street $ 92
1,600
$ 12,266
Park Ave & East 56th Street $ 98
1,900
$ 15,516
Address $ / SF / Yr SF Monthly Rent
W 48th St & Avenue of the Americas $ 58
12,500
$ 60,416
5th Ave & West 47th Street $ 63
8,000
$ 42,000
E 59th St & Madison Avenue $ 180
9,700
$ 145,500
Address $ / SF / Yr SF Monthly Rent
Park Ave & East 59th Street $ 69.5
6,200
$ 35,908
Madison Ave & East 49th Street $ 55.55
3,400
$ 15,739
E 48th St & Madison Avenue $ 55
4,600
$ 21,083
E 52nd St & Fifth Avenue $ 42.5
3,400
$ 12,041
W 57th St & Avenue of the Americas $ 68
4,100
$ 23,233
E 55th St & Third Avenue $ 47
2,900
$ 11,358
E 58th St & Third Avenue $ 50
3,400
$ 14,166
E 59th St & Second Avenue $ 93.3
3,200
$ 24,880
E 61st St & Second Avenue $ 61
2,500
$ 12,708
E 49th St & Between Fifth Avenue $ 27
3,300
$ 7,425
Address $ / SF / Yr SF Monthly Rent
Lexington Ave & Lexington Avenue $ 44.5
2,500
$ 9,270
E 60th St & Madison Avenue $ 55
1,600
$ 7,333
Park Ave & East 59th Street $ 65
2,100
$ 11,375
E 56th St & Park Avenue $ 59
1,900
$ 9,341
E 48th St & Madison Avenue $ 55
2,400
$ 11,000
W 57th St & Avenue of the Americas $ 67
1,600
$ 8,933
E 60th St & Fifth Avenue $ 54
2,200
$ 9,900
E 58th St & Third Avenue $ 52
1,900
$ 8,233
Madison Ave & East 49th Street $ 65
2,000
$ 10,833
Address $ / SF / Yr SF Monthly Rent
W 47th St & Avenue of the Americas $ 52.5
7,100
$ 31,062
Address $ / SF / Yr SF Monthly Rent
E 59th St & Madison Avenue $ 61.5
4,000
$ 20,500
E 59th St & Between Second Avenue $ 65.5
6,500
$ 35,479
Address $ / SF / Yr SF Monthly Rent
W 47th St & Avenue of the Americas $ 53
2,000
$ 8,833

Retail Spaces for Rent at 587 Fifth Ave

Rent Retail 587 Fifth Ave

Rent Medical Space at 587 Fifth Ave

Office Tenants Rented / Leased 587 Fifth Avenue
  • Art De La Beaute Corporation leased 8,660 SF
  • Nest Seekers leased 4,330 SF
  • Gemological Science Insti… leased 4,110 SF
  • Ses Creations leased 500 SF
  • Just One Life leased 2,750 SF
  • Fieve Clinical Research leased 1,622 SF
Nearby Office Tenants Leased
  • Weill Cornell Medical Colle… leased 169,790 SF at 575 Lexington Ave
  • VF Sportswear leased 168,000 SF at 40 West 57th St
  • RSM McGladrey leased 164,700 SF at 1185 Sixth Ave
  • Capital One leased 164,488 SF at 299 Park Ave
  • Mediaedge leased 160,335 SF at 825 Seventh Ave
  • group of family trusts leased 160,000 SF at 511 Fifth Avenue
  • WeWork leased 159,300 SF at 12 East 49th Street
  • Linklaters leased 158,000 SF at 1345 Avenue of the Americas
  • Holtzbrinck Publishers leased 157,500 SF at 175 Fifth Ave
  • Benjamin N. Cardozo Sch… leased 156,668 SF at 55 Fifth Ave
Nearby Retail Tenants Leased
  • Guess leased 13,000 SF at 575 Fifth Ave
  • STK restaurant leased 12,659 SF at 1114 Sixth Ave
  • Tourneau leased 12,050 SF at 601 Madison Avenue
  • North Fork Bank leased 12,000 SF at 57 West 57th St
  • Duane Reade leased 11,717 SF at 575 Lexington Ave
  • Mackage leased 11,555 SF at 404 Fifth Avenue
  • Uniqlo leased 11,500 SF at 155 Fifth Ave
  • Urbanspace leased 11,400 SF at 570 Lexington Avenue
  • Gap leased 11,000 SF at 126 Fifth Ave
  • Ann Taylor leased 11,000 SF at 600 Fifth Ave
$ / SF SF Monthly Rent
Please notify me when a new space is available
Tenant Broker’s Perspective: Return-to-office mandates are driving up rental prices at 587 Fifth Avenue. This trend is projected to continue. Opportunities for subleases remain available at 587 Fifth Avenue and in the nearby Plaza District neighborhood.
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Why Optimal Spaces Tenant Broker

  • Lease negotiation: full terms, renewals, expansion options
  • Cost analysis, inventory identification, negotiating scope
  • Risk mitigation against hidden pitfalls

Cost Savings

  • Negotiate 30+ leasing points to prevent hidden costs
  • Save 10–15% on total leasing costs
  • Save 100–200 hours filtering unviable spaces
  • Property access via broker databases and networks (off-market, subleases, future availability)

Alone or With Other Brokers

  • Managing agents owe fiduciary duty to landlords, seeking maximum price and terms rather than tenant savings.
  • Inherent conflict of interest as most brokers represent landlords
  • Risk of weaker terms and overlooked hidden costs
  • Heavy workload falls on you while best spaces are missed

587 Fifth Avenue Property Overview

Building Address: 587 Fifth Ave, New York NY 10017
Building Alternate Address: 587 5th Ave
Zip Code:10017
Neighborhood:Plaza District
Borough:Manhattan
Stories:10
Year Built:1920
Building Class:B
Block & lot:01283-0072

587 Fifth Avenue, located between 47th and 48th Streets in Manhattan, is a significant building within New York City's iconic shopping district. It was constructed in 1921 as a mixed-use property, featuring both retail and office spaces.

The building has experienced several ownership changes over the years. In 2016, Steven Kassin's Infinity Collective acquired a majority stake in the building's leasehold, marking the end of a four-year legal dispute between previous owners. Infinity partnered with Xerxes Group and Elyass Eshagian, with the new owners obtaining a substantial mortgage for renovations.

Notably, 587 Fifth Avenue became a part of history in 2024 when it hosted the third location of The Travel Agency, a cannabis retail store. This marked the first licensed cannabis dispensary to open on Fifth Avenue, reflecting a shift in the area's commercial landscape.

The building's strategic location, adjacent to major attractions like Rockefeller Center, makes it a prime destination for both locals and tourists. With its mix of retail and office spaces, it continues to play a role in Manhattan's vibrant commercial scene.

587 Fifth Avenue is a commercial building located in Midtown Manhattan, NYC. Built in 1921, it features 10 stories and offers office spaces with a mix of retail areas. The property is situated on a 3,750 square foot lot and benefits from its frontage along Fifth Avenue. It was last purchased for $8,000,000 in 2016 and has a tax assessed market value of $17,669,000. The building is part of the Plaza District office submarket.


587 Fifth Avenue, located in Manhattan, NYC, offers a range of amenities and features ideal for businesses:

  • 30 Foot Ceilings on the Ground Floor: High ceilings provide an open and airy space for retail or office use.
  • Boutique Flagship Space: Situated in the heart of the Fifth Avenue Shopping Corridor, offering prime visibility.
  • Accessibility and Location: Proximity to Grand Central Station and numerous transportation options makes it highly accessible.
  • Surrounding Amenities: Close to various restaurants, hotels, and shopping options, enhancing convenience for employees and clients.
  • Professional Setting: Ideal for businesses seeking a central, professional environment in Midtown Manhattan.
  • Multi-Tenant Facility: Allows for a diverse range of businesses to co-locate.

With a compact lot size of 0.09 acres, this ten-story building provides approximately 45,000 square feet of office space.


587 Fifth Ave, Manhattan, NYC - Office Tenants Overview

587 Fifth Avenue is a 10-story mixed-use commercial building located between 47th and 48th Streets in Midtown Manhattan, New York City. Built in 1921, the property offers approximately 38,600 square feet of office space above 4,000 square feet of retail space along Fifth Avenue.

The building is currently about 66% leased with multiple tenants occupying various office suites. It features column-free floorplates with large windows facing Fifth Avenue, offering natural light and flexibility in office layouts. The lobby underwent renovation around 2018 to enhance the tenant experience.

Available office space includes a 4,425 to 4,500 square feet turnkey shell space on the 5th floor, ready for immediate occupancy with negotiable lease terms and customizable improvements. The space is suitable for office or medical use, with 12-foot finished ceilings and mostly open floor plan layouts.

Location benefits include direct access to multiple Metro bus lines and convenient proximity to subway stations, making it highly accessible for commuters.

The building is managed on site, ensuring prompt service and maintenance for tenants. The property's prime Midtown location on Fifth Avenue makes it an attractive option for businesses seeking prestigious office space in a high-traffic corridor.


  • Verizon Fios: Fiber up to 2 Gbps (high availability in Manhattan)
  • Astound Broadband (RCN): 1.5 Gbps fiber/cable plans
  • Spectrum: 1 Gbps cable widely available
  • Optimum: 8 Gbps fiber options (limited availability)
  • T-Mobile Home Internet: 5G up to 415 Mbps
  • Xfinity: 2 Gbps cable plans

587 Fifth Avenue, Manhattan, NYC

Cross Streets

Located at the intersection of Fifth Avenue and West 47th Street in Manhattan, New York City.

Transportation

Subway Lines Nearby: 7, N, Q, R, W (at 5th Ave/47th St station); B, D, F, M (at 47-50th Sts Rockefeller Ctr station); E, M (at 5th Ave/53rd St station).

Bus Routes: M1, M2, M3, M4 run along Fifth Avenue near this location.

Subway Stations Close By:

  • 5th Ave/47th St (7, N, Q, R, W trains)
  • 47-50th Sts Rockefeller Ctr (B, D, F, M trains)
  • 5th Ave/53rd St (E, M trains)

Cross Streets: Fifth Avenue and West 47th Street, with close proximity to West 48th Street and West 46th Street.

Office Tenants Rented / Leased 587 Fifth Avenue
  • Art De La Beaute Corporation leased 8,660 SF
  • Nest Seekers leased 4,330 SF
  • Gemological Science Insti… leased 4,110 SF
  • Ses Creations leased 500 SF
  • Just One Life leased 2,750 SF
  • Fieve Clinical Research leased 1,622 SF
Nearby Office Tenants Leased
  • Weill Cornell Medical Colle… leased 169,790 SF at 575 Lexington Ave
  • VF Sportswear leased 168,000 SF at 40 West 57th St
  • RSM McGladrey leased 164,700 SF at 1185 Sixth Ave
  • Capital One leased 164,488 SF at 299 Park Ave
  • Mediaedge leased 160,335 SF at 825 Seventh Ave
  • group of family trusts leased 160,000 SF at 511 Fifth Avenue
  • WeWork leased 159,300 SF at 12 East 49th Street
  • Linklaters leased 158,000 SF at 1345 Avenue of the Americas
  • Holtzbrinck Publishers leased 157,500 SF at 175 Fifth Ave
  • Benjamin N. Cardozo Sch… leased 156,668 SF at 55 Fifth Ave
Nearby Retail Tenants Leased
  • Guess leased 13,000 SF at 575 Fifth Ave
  • STK restaurant leased 12,659 SF at 1114 Sixth Ave
  • Tourneau leased 12,050 SF at 601 Madison Avenue
  • North Fork Bank leased 12,000 SF at 57 West 57th St
  • Duane Reade leased 11,717 SF at 575 Lexington Ave
  • Mackage leased 11,555 SF at 404 Fifth Avenue
  • Uniqlo leased 11,500 SF at 155 Fifth Ave
  • Urbanspace leased 11,400 SF at 570 Lexington Avenue
  • Gap leased 11,000 SF at 126 Fifth Ave
  • Ann Taylor leased 11,000 SF at 600 Fifth Ave

Onsite Networks Testimonial

Onsite Networks testimonial I am writing in recognition of the quality service provided by Optimal Spaces Inc. and Stephen Sunderland in finding us a sublease at 41 Madison Avenue. We strongly recommend them for the excellent job they did. They were efficient and responsive in locating spaces that met our needs and corporate image, aggressive in negotiating on our behalf, and effective in communicating our needs to the landlord and getting our offer accepted. I look forward to working with the team at Optimal Spaces Inc. again. Very truly yours, Dennis Jules Kessler Chief Financial Officer On Site Networks, Inc

Office Buildings in Plaza District

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