Commercial Investment Property for Lease – 175–179 Second Avenue, New York, NY 10003

Asking Rent: $40,000 / Month
Sale Type: Lease – Retail / Commercial Opportunity
Property Type: Ground-Floor Retail / Restaurant Space
Location: Urban – East Village, Manhattan (10003)
Availability: Immediate

Property Overview

175–179 Second Avenue offers a 2,100 SF retail leasing opportunity in the heart of the East Village, a neighborhood renowned for its eclectic mix of restaurants, nightlife, and boutique retail. With a wide frontage spanning two addresses, this property provides exceptional visibility and strong foot traffic along a highly active corridor.

The space is particularly well-suited for restaurant, café, or experiential retail concepts, supported by the East Village’s dense residential population, youthful demographic, and constant visitor flow.

Key Features

• Total Size: 2,100 SF
• Asking Rent: $40,000/month (~$229/SF annualized)
• Property Type: Ground-floor retail / restaurant space
• Location: East Village, Second Avenue frontage
• Visibility: Dual-address frontage with excellent pedestrian exposure
• Configuration: Open floor plan adaptable for food service, retail, or hybrid experiential concepts

Market Profile

• Property Type: Prime mid-size East Village retail/restaurant space
• Target Tenant Base: Restaurants, cafés, specialty retail, wellness/fitness studios, entertainment concepts
• Neighborhood Demand: East Village attracts students, professionals, and tourists, creating constant demand for food, beverage, and lifestyle offerings
• Competitive Advantage: Larger footprint than typical East Village storefronts, offering scale for a flagship neighborhood operation

Financial Highlights

• Asking Rent: $40,000 per month
• Annualized Rent: $480,000
• Rent per SF (Annualized): ~$229/SF
• Lease Type: Typically NNN or modified gross (to be negotiated)
• Upside Potential: Long-term rent growth supported by the East Village’s consistent tenant demand and evolving retail/restaurant mix

Location Advantages

• Neighborhood: East Village – vibrant, trend-driven, and densely populated with strong residential and nightlife appeal
• Proximity: Close to NYU, Tompkins Square Park, Lower East Side, and Union Square
• Transit: Excellent subway access (L, N, Q, R, W, 6 lines) and multiple bus routes
• Tenant Demand: Strong demand from restaurateurs, boutique retailers, and entertainment operators

Summary

The 2,100 SF retail space at 175–179 Second Avenue, East Village is offered at $40,000/month (~$229/SF annually), presenting a unique opportunity for restaurants or experiential retail operators to establish a flagship presence in one of Manhattan’s most dynamic cultural districts. With its dual frontage, strong neighborhood demand, and adaptable layout, this property stands out as a premium East Village leasing option.