Retail

214-216 First Avenue, New York, NY 10009 – East Village
Asking Rent: $30,000/month
Space: 1,900 sq ft
Property Type: Retail (Ground Floor)
Rent per Sq Ft: $15.79/month ($189.48/sq ft annualized)

Property Overview

This 1,900-square-foot retail space at 214-216 First Avenue is a substantial, high-impact opportunity on a major East Village corridor. With an asking rent of $30,000 per month, it is positioned for a destination restaurant, lively bar, boutique fitness studio, or experiential retail concept that can become a neighborhood anchor. The significant square footage and prominent avenue location are designed for a business seeking to draw from the East Village’s dense, youthful residential base, NYU student population, and nightlife seekers, offering ample space for dining, entertainment, or large-scale retail.

Space Highlights

• Spacious ground-floor retail space of 1,900 sq ft with direct frontage on First Avenue.
• Ample square footage suitable for a full-service restaurant and bar with sizable dining areas, a live music venue/performance space, a boutique gym (e.g., cycling, boxing, large-format yoga), or a hybrid retail/entertainment concept.
• High visibility on a bustling north-south avenue with constant pedestrian, vehicle, and nightlife traffic.
• Will require a comprehensive, high-quality build-out which may include a full commercial kitchen, bar plumbing, stage/sound infrastructure, or specialized fitness flooring and equipment.
• The size allows for a multi-functional layout, potentially including a mezzanine, private event space, or separate retail and service zones.

Location & Neighborhood

• Prime East Village location on First Avenue between 13th and 14th Streets.
• Situated in the heart of one of Manhattan’s most vibrant, youthful, and culturally dynamic neighborhoods, known for its eclectic dining, nightlife, and artistic energy.
• Serves a dense mix of NYU students, young professionals, long-time residents, and nightlife tourists.
• Extremely high foot traffic, especially during evenings and weekends, from a crowd with high disposable income for dining and entertainment.
• Excellent transit access via the L train at 1st Ave, the 4/5/6, N/Q/R/W, L trains at Union Square-14th Street, and multiple bus lines.
• Walkable to Union Square, Gramercy, and the Lower East Side.

Summary

Priced at $30,000/month ($15.79/sq ft/month), this 1,900 sq ft retail space at 214-216 First Avenue commands a premium rent reflective of its size and position in one of downtown’s most active commercial and nightlife corridors. The annualized rent of $189.48 per square foot is justified by the revenue potential from the area’s high-spend, high-volume customer base. This opportunity is for an experienced hospitality group, established fitness brand, or ambitious operator with a proven, high-energy concept. Success requires a business model that can capitalize on both daypart (lunch, day fitness) and nightlife activity, creating a destination that stands out in a saturated but lucrative market. It’s a chance to secure a legacy-sized location in the epicenter of East Village energy.