Rent Office 587 Fifth Avenue
Lease Office - 587 Fifth Ave
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Rent Sublease Office - 587 Fifth Ave
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Nearby office Spaces for Rent
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Third Ave & East 49th Street | Negotiable | 7,700 |
Negotiable |
| Park Ave & East 54th Street | Negotiable | 8,200 |
Negotiable |
| W 57th St & Avenue of the Americas | Negotiable | 9,200 |
Negotiable |
| Fifth Ave & East 55th Street | Negotiable | 23,600 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Third Ave & East 49th Street | Negotiable | 4,300 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Third Ave & East 49th Street | $ 60 | 2,000 |
$ 10,000 |
| Madison Ave & East 53rd Street | Negotiable | 1,900 |
Negotiable |
| E 52nd St & Lexington Avenue | $ 64 | 2,400 |
$ 12,800 |
| Madison Ave & East 55th Street | Negotiable | 2,400 |
Negotiable |
| Madison Ave & East 55th Street | $ 76 | 2,300 |
$ 14,566 |
| Avenue of the Americas & West 55th Street West 56th Street | Negotiable | 1,900 |
Negotiable |
| Fifth Ave & East 48th Street | Negotiable | 2,100 |
Negotiable |
| Rockefeller Plaza & West 48th Street | Negotiable | 2,200 |
Negotiable |
| Avenue of the Americas & West 51st Street | Negotiable | 2,300 |
Negotiable |
| Madison Ave & East 48th Street | Negotiable | 2,100 |
Negotiable |
| Fifth Ave & West 47th Street | Negotiable | 1,700 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| W 48th St & Avenue of the Americas | Negotiable | 7,900 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Avenue of the Americas & West 47th Street | Negotiable | 3,300 |
Negotiable |
| Madison Ave & East 49th Street | Negotiable | 5,500 |
Negotiable |
| W 48th St & Avenue of the Americas | Negotiable | 2,900 |
Negotiable |
| E 52nd St & Fifth Avenue | Negotiable | 3,000 |
Negotiable |
| W 57th St & Avenue of America | Negotiable | 3,800 |
Negotiable |
| E 55th St & Third Avenue | $ 47 | 2,900 |
$ 11,358 |
| W 48th St & Fifth Avenue | Negotiable | 3,000 |
Negotiable |
| E 59th St & Second Avenue | $ 93 | 3,200 |
$ 24,880 |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| E 60th St & Madison Avenue | $ 55 | 1,600 |
$ 7,333 |
| E 56th St & Park Avenue South | Negotiable | 1,900 |
Negotiable |
| W 48th St & Avenue of the Americas | Negotiable | 2,200 |
Negotiable |
| W 57th St & Avenue of America | Negotiable | 1,600 |
Negotiable |
| E 55th St & Third Avenue | Negotiable | 1,900 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| W 47th St & Avenue of the Americas | Negotiable | 7,100 |
Negotiable |
| E 59th St & Madison Avenue | Negotiable | 11,400 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| E 59th St & Madison Avenue | Negotiable | 3,200 |
Negotiable |
| E 59th St & Between 2nd Avenue | Negotiable | 6,500 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|
Retail Spaces for Rent
Rent Retail - 587 Fifth Ave
| $ / SF | SF | >Monthly Rent |
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| $ / SF | SF | >Monthly Rent |
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| $ / SF | SF | >Monthly Rent |
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Rent Retail - 587 Fifth Ave
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| $ / SF | SF | >Monthly Rent |
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| $ / SF | SF | >Monthly Rent |
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Nearby retail Spaces for Rent
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Third Ave & East 49th Street | Negotiable | 4,000 |
Negotiable |
| W 57th St & Avenue of the Americas | Negotiable | 5,900 |
Negotiable |
| Fifth Ave & East 46th Street | Negotiable | 12,600 |
Negotiable |
| Madison Ave & East 55th Street | Negotiable | 2,900 |
Negotiable |
| Park Ave & East 59th Street | Negotiable | 2,500 |
Negotiable |
| Third Ave & East 54th Street | Negotiable | 2,900 |
Negotiable |
| Avenue of the Americas & West 55th Street West 56th Street | Negotiable | 3,100 |
Negotiable |
| Third Ave & East 52nd Street | Negotiable | 2,200 |
Negotiable |
| Park Ave & East 53rd Street | Negotiable | 4,200 |
Negotiable |
| E 58th St & Lexington Avenue | Negotiable | 2,300 |
Negotiable |
| Park Ave & East 48th Street | Negotiable | 2,900 |
Negotiable |
| Park Ave & East 56th Street | Negotiable | 3,700 |
Negotiable |
| Third Ave & East 50th Street | Negotiable | 2,500 |
Negotiable |
| Madison Ave & East 51st Street | Negotiable | 4,400 |
Negotiable |
| W 57th St & Avenue of the Americas | Negotiable | 7,300 |
Negotiable |
| Madison Ave & East 55th Street | Negotiable | 2,600 |
Negotiable |
| Avenue of the Americas & West 47th Street | Negotiable | 6,800 |
Negotiable |
| Third Ave & East 47th Street | Negotiable | 3,200 |
Negotiable |
| Rockefeller Plaza & Fifth Avenue | Negotiable | 3,200 |
Negotiable |
| Third Ave & East 52nd Street Street | $ 200 | 5,400 |
$ 90,000 |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Third Ave & East 49th Street | Negotiable | 1,600 |
Negotiable |
| W 57th St & Avenue of the Americas | Negotiable | 1,400 |
Negotiable |
| Park Ave & East 58th Street | Negotiable | 1,500 |
Negotiable |
| Fifth Ave & East 46th Street | Negotiable | 1,700 |
Negotiable |
| Avenue of the Americas & West 53rd Street | Negotiable | 1,600 |
Negotiable |
| Madison Ave & East 55th Street | Negotiable | 1,500 |
Negotiable |
| Third Ave & East 54th Street | Negotiable | 2,000 |
Negotiable |
| Third Ave & East 52nd Street | Negotiable | 1,300 |
Negotiable |
| Madison Ave & East 48th Street | Negotiable | 1,000 |
Negotiable |
| Madison Ave & East 51st Street | Negotiable | 1,500 |
Negotiable |
| Madison Ave & East 56th Street | Negotiable | 1,400 |
Negotiable |
| Third Ave & East 47th Street | Negotiable | 1,700 |
Negotiable |
| Third Ave & East 49th Street | Negotiable | 1,700 |
Negotiable |
| Fifth Ave & East 53rd Street East 52nd Street | Negotiable | 1,900 |
Negotiable |
| Third Ave & East 52nd Street Street | $ 225 | 1,800 |
$ 33,750 |
| E 57th St & Park Avenue | Negotiable | 1,300 |
Negotiable |
| Rockefeller Plaza & Avenue of the Americas | Negotiable | 1,200 |
Negotiable |
| Third Ave & East 50th Street | Negotiable | 1,500 |
Negotiable |
| Fifth Ave & West 52nd Street | Negotiable | 1,600 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & East 46th Street | Negotiable | 700 |
Negotiable |
| Madison Ave & East 49th Street | Negotiable | 900 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & East 49th Street | Negotiable | 2,800 |
Negotiable |
| E 55th St & Third Avenue | Negotiable | 3,000 |
Negotiable |
| E 58th St & Park Avenue | Negotiable | 7,100 |
Negotiable |
| E 59th St & Second Avenue | Negotiable | 2,400 |
Negotiable |
| W 57th St & Avenue of the Americas | Negotiable | 3,200 |
Negotiable |
| E 59th St & Madison Avenue | Negotiable | 3,400 |
Negotiable |
| Madison Ave & East 57th Street | Negotiable | 4,200 |
Negotiable |
| First Ave & East 64th Street | Negotiable | 2,200 |
Negotiable |
| Third Ave & East 61st Street | $ 85 | 7,900 |
$ 55,958 |
| E 61st St & Barclay Street | Negotiable | 8,100 |
Negotiable |
| W 57th St & 6th Avenue | Negotiable | 3,800 |
Negotiable |
| 3rd Ave & East 60th Street | Negotiable | 3,700 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| E 60th St & Fifth Avenue | Negotiable | 1,200 |
Negotiable |
| W 57th St & Avenue of the Americas | Negotiable | 1,800 |
Negotiable |
| E 57th St & Lexington Avenue | Negotiable | 1,100 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| W 57th St & 6th Avenue | Negotiable | 3,000 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|
| Address | $ / SF | SF | Monthly Rent |
|---|
Rent Medical Space
Nearby medical Spaces for Rent
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| E 60th St & Park Avenue South | Negotiable | 7,400 |
Negotiable |
| E 57th St & Park Avenue | $ 74 | 5,800 |
$ 35,766 |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| E 60th St & Park Avenue South | Negotiable | 3,200 |
Negotiable |
| Fifth Ave & East 54th Street | Negotiable | 4,800 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Rockefeller Plaza & West 48th Street | Negotiable | 1,600 |
Negotiable |
| E 60th St & Park Avenue South | Negotiable | 1,200 |
Negotiable |
| E 57th St & Park Avenue | $ 75 | 2,400 |
$ 15,000 |
| Rockefeller Plz & West 50th Street | Negotiable | 1,500 |
Negotiable |
| Madison Ave & East 52nd Street | Negotiable | 1,800 |
Negotiable |
| E 57th St & Lexington Avenue | Negotiable | 2,300 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & West 47th Street | $ 65 | 6,400 |
$ 34,666 |
| E 58th St & Park Avenue | Negotiable | 10,800 |
Negotiable |
| W 57th St & Avenue of the Americas | $ 45 | 9,000 |
$ 33,750 |
| E 56th St & Madison Avenue | Negotiable | 5,600 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| W 57th St & Avenue of America | Negotiable | 3,400 |
Negotiable |
| E 55th St & Park Avenue | $ 58 | 3,500 |
$ 16,916 |
| E 56th St & Sixth Avenue | Negotiable | 4,800 |
Negotiable |
| W 57th St & Avenue of the Americas | $ 45 | 4,500 |
$ 16,875 |
| Lexington Ave & Lexington Avenue | $ 42 | 4,600 |
$ 16,100 |
| W 51st St & Avenue of the Americas | $ 65 | 4,300 |
$ 23,291 |
| Address | $ / SF | SF | Monthly Rent |
|---|---|---|---|
| Central Park S & Grand Army Plaza | Negotiable | 1,700 |
Negotiable |
| E 60th St & Madison Avenue | $ 65 | 2,700 |
$ 14,625 |
| E 56th St & Park Avenue South | $ 56 | 1,700 |
$ 7,933 |
| E 58th St & Park Avenue | Negotiable | 1,800 |
Negotiable |
| E 55th St & Third Avenue | $ 47 | 2,800 |
$ 10,966 |
| E 49th St & Between 5th Avenue | $ 27 | 2,800 |
$ 6,300 |
| Madison Ave & East 49th Street | $ 33 | 2,500 |
$ 6,916 |
| W 57th St & Avenue of America | Negotiable | 2,400 |
Negotiable |
| Address | $ / SF | SF | Monthly Rent |
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| Address | $ / SF | SF | Monthly Rent |
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| Address | $ / SF | SF | Monthly Rent |
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Thank you! we will be in touch.
Lease 587 Fifth Avenue
Rent 587 Fifth Avenue Property Overview
| Bulding 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.
Internet Providers at 587 Fifth Avenue
| Internet Provider | Technology | Max Download Speed | Max Upload Speed |
|---|---|---|---|
| Verizon New York | Fiber | 1 Gb/s | 25 Mb/s |
| Lightower | Fiber | 10 Gb/s | 10 Gb/s |
| Stealth Communications | Fiber | 10 Gb/s | 10 Gb/s |
Rent Office - 587 Fifth Avenue Average
| Year | $ / SF |
|---|---|
| 2018 | 62.44 |
| 2019 | 69.0 |
| 2022 | 45.0 |
| Year | $ / SF |
|---|---|
| 2019 | 54.0 |
ConnectivCorp Testimonial
We love a challenge!
Optimal Spaces can help you turn critical and complex real estate issues into opportunities for growth and or cost reduction. We offer the experience, know-how, and the strategic planning that helps lead to better decisions. Virtually everything you need to enhance the value of your business (for profit and not for profit) , you will find at Optimal Spaces.About Optimal Spaces
Optimal Spaces are Tenant Brokers, only representing commercial tenants, not owners or landlords. By contrast, managing agents and most commercial brokers are "landlord agents" representing the interest of owners. Their goal is to market and lease their clients' properties with the best possible terms for the owners. Thus, they will neither show you as broad a selection nor push to get the best price, since their loyalty is to the Landlord. An Optimal Spaces agent will show you a broader range of properties and offer you a broader range of important services than a managing agent or commercial broker will. We will provide you with a market survey, floor plans, pricing expectations , and access to our rolodex: Optimal Spaces walks you through the process from start to finish. Upon entering your new space, it will look the way you want, all at the price you agreed to spend. In addition to negotiating the best price, we will reveal and abate many "hidden costs" to you. We will show you all the relevant available spaces and safeguard your interests throughout the process. Because of tour costs to provide these services, we ask in exchange that clients sign an Exclusive Brokerage Agreement. This allows us to plan appropriately for assisting you with every step of the process.
Commercial Real Estate Spaces in New York
Optimal Spaces specializes in negotiating deals for tenants, ensuring savings of 15-20% compared to what tenants could achieve on their own.
Finding the perfect commercial space in New York is essential, and we understand its importance. Our services encompass a wide range of commercial available spaces, including office, educational, industrial, retail, medical, and loft spaces.
Optimal Spaces specializes in negotiating deals for tenants, ensuring savings of 15-20% compared to what tenants could achieve on their own.
Finding the perfect commercial space in New York is essential, and we understand its importance. Our services encompass a wide range of commercial available spaces, including office, educational, industrial, retail, medical, and loft spaces.
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