Retail

Commercial Retail Space for Lease – 1496–1498 First Avenue, New York, NY 10075

Asking Rent: $20,000 / Month
Size: 1,650 SF
Price per SF: ~$145 / SF annually
Property Type: Retail / Restaurant / Boutique / Specialty Use
Status: Active

Property Overview

1496–1498 First Avenue offers approximately 1,650 SF of ground-floor retail space in the heart of the Upper East Side, along a well-established neighborhood retail corridor. The property benefits from strong pedestrian traffic, dense surrounding residential population, and excellent street visibility, making it an ideal location for retail or food-and-beverage operators.

Key Features

• Total Size: 1,650 SF
• Asking Rent: $20,000/month ($240,000 annually)
• Price per SF: ~$145 annually
• Use Flexibility: Suitable for restaurant, café, boutique retail, specialty food, wellness retail, or service-oriented concepts
• Frontage: Street-level storefront with strong First Avenue exposure
• Condition: Delivered ready for tenant build-out or light customization

Market Profile

• Target Tenants: Restaurants, cafés, boutique retailers, specialty food operators, wellness or beauty brands, and neighborhood service businesses
• Neighborhood Demand: The Upper East Side remains a high-demand retail submarket driven by strong household incomes and consistent neighborhood shopping patterns
• Competitive Advantage: Prime First Avenue frontage at a competitive rent compared to Madison and Third Avenue retail corridors

Location Advantages

• Neighborhood: Upper East Side
• Proximity: 86th Street retail corridor, Carl Schurz Park, and Yorkville
• Transit: Served by Q, 4, 5, and 6 subway lines nearby
• Foot Traffic: Heavy mix of residents, commuters, and neighborhood shoppers throughout the day

Summary

The 1,650 SF retail space at 1496–1498 First Avenue presents a strong leasing opportunity at $20,000/month (~$145/SF annually) in one of Manhattan’s most established neighborhood retail corridors. With excellent street visibility, steady pedestrian traffic, and flexible use potential, this property is well suited for retail or restaurant operators seeking a high-quality Upper East Side location.