360-362 W 42nd St
New York, NY 10036 Garment District

China Xiang is an established Hunan restaurant on one of Manhattan's busiest blocks, now offered for sale as a going concern. The space runs ±4,000 square feet in total — 2,500 SF of ground-floor dining fronting West 42nd Street, plus 1,500 SF of basement support space — a half block west of the Port Authority Bus Terminal and two blocks from Times Square.
The restaurant is fully built out and operating. The ground floor reads as two connected dining rooms finished in exposed brick and warm pendant lighting, with a large round banquet table for group and private dining, a host counter and POS station at the entrance, and wide glass frontage on 42nd Street. Behind the dining room sits a full commercial kitchen with hood ventilation, wok line, and separate prep and dish areas.
Ownership reports gross sales of roughly $190,000 per month against rent of $28,000, with no real estate tax currently billed. Approximately 14 years remain on the lease, leaving room to grow the business or bring in a new concept.
Property Highlights
±4,000 SF across ground floor and basement
14 years remaining on the lease
No real estate tax currently billed to the tenant
Full commercial kitchen, hood ventilation and wok line
Two dining rooms plus a round banquet table for private groups
Wide glass storefront and lighted signage on West 42nd Street
Delivery and takeout already running on Grubhub and Seamless
Sold turnkey with all furniture, fixtures and equipment
The Location
Port Authority Bus Terminal — directly across 42nd Street, one of the country's busiest commuter hubs
Times Square — two blocks east, with the Broadway theater district and year-round tourist traffic
Theatre Row & Signature Theatre — off-Broadway houses on the same block, feeding pre- and post-show dining
Transit — A / C / E at 42 St–Port Authority on the corner; 1 / 2 / 3 / 7 / N / Q / R / W / S at Times Sq–42 St
Residential base — Manhattan Plaza and thousands of Hell's Kitchen apartments within a few blocks
Offices & events — The New York Times Building, Hudson Yards and the Javits Center all a short walk away

• Date available: Sep 2026
• Lease term: None
• Service type: To Be Determined
• Built out as: Restaurants And Cafes
• Space Type: Sublet