Penn Station

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  • 9 Penn Plz New York City New York 10001 United States
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1REC's Take
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Availabilities
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1REC's Take
Pros

✔ High commuter traffic, excellent retail exposure ✔ Central location ✔ Major transportation hub

Cons

✘ Overcrowded and chaotic ✘ Limited aesthetic appeal ✘ Ongoing construction and renovations

Shopper Profile

✦ Commuters: Passing through the busy station ✦ Tourists: Arriving and departing the city ✦ Preferences: Fast food, convenience stores, quick services

About Location
The heartbeat of NYC’s commuter scene, Penn Station serves as a crucial transit crossroad. Amidst the rush, it offers an array of quick-service restaurants, convenience shops, and essential services. The nearby retail landscape caters to the daily commuter, with rents being competitive given the station’s importance. It’s a blend of corporate entities and some long-established local landlords in the vicinity.
Trade Area Summary

Basic Demographics

Median Household Income: $120,727
Consumer Expenditure: $28,074,019,825
Population: 644,571
Daytime Population: 1,826,555
Source Notes: Data reflects 20 minute drive times as of Q3 2023 (Experian) and is provided by Dallimore & Co, a boutique advisory firm specializing in growth strategy, real estate solutions, and M&A for specialty retail and consumer brands.

Household Segment Breakdown

Segment #1: G – Educated Urbanites (82%)
Segment #2: J – Sunset Boomers (11%)
Segment #3: I – Young Urban Singles (3%)
All Other Segments: 4%

Source Notes: Segment data reflects 0.25mi radius and is provided by Spatial.ai, an AI-Powered segmentation platform for retail marketers.

Occupancy
Tenant Sales per Square Foot: $1,200
Occupancy Rate: 90%
Anchor Tenants: Moynihan Train Hall, Amtrak
Tenant Rent/Sales Ratio (%): 12.5% – 29.2%
Rent $ / Visitor: $9.5 – $22.75
Source Notes: Data sourced from public and private records.
Destination Rents
Average Rent (psf): $106
Median Rent (psf): $106
Rent Range (psf): $106-$106
Rent Variability: Low
Source Notes: Data provided by Retail by MONA, a New York based brokerage firm.
Availabilities
Know Before You Go
Preferred ISP(s)
Spectrum, Verizon Fios
Estimated Permit Timeline (weeks)
8-10
Landmarks Risk
High
Union Labor Disharmony Likelihood
High
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MSA: New York-Newark-Jersey City NY-NJ-PA
Address: 9 Penn Plz
New York City
New York
10001
United States
Place Tags: NYC
Website
Retail Type: Transportation Hubs

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