At the stated asking rent, the space equates to approximately $126.32 per square foot annually, with annual base rent of approximately $240,000.

89 East 116th Street is a five-story mixed-use building originally constructed in 1910. Property records identify the building as approximately 9,765 square feet on a 25-foot-wide lot, with residential units above commercial space at street level.

Key Features

• Asking Rent: $20,000 / month
• Available Space: 1,900 SF
• Annual Base Rent: $240,000
• Approximate Rent: $126.32 / SF / year
• Property Type: Retail Storefront
• Lease Type: Commercial Lease
• Building: 89 East 116th Street
• Building Type: Mixed-Use Residential / Retail
• Stories: 5
• Year Built: 1910
• Building Size: Approximately 9,765 SF
• Location: East 116th Street near Park Avenue
• Neighborhood: East Harlem
• Positioning: Neighborhood retail opportunity along an active Upper Manhattan commercial corridor
• Potential Uses: General retail, financial services, beauty, wellness, medical-related retail, specialty food, service retail, or other customer-facing concepts, subject to zoning, venting, permitted use, and lease terms
• Transit Access: The 6 train at 116th Street is approximately 0.13 miles away, with the 2 and 3 trains at 116th Street approximately 0.34 miles away.

Building & Location

89 East 116th Street is positioned near Park Avenue in East Harlem. The building is classified as a mixed-use property containing residential units and ground-level commercial space. Public property information identifies a 25-foot-wide building containing approximately 9,765 total square feet and five stories.

The address has an established history of commercial use. A financial-services business currently identifies 89 East 116th Street at Park Avenue as one of its Manhattan locations, reinforcing the property’s suitability for customer-facing neighborhood commercial uses.

Its East 116th Street position provides access to pedestrian activity generated by neighborhood residents, commuters, shoppers, students, employees, and visitors traveling between the Lexington Avenue, Park Avenue, and Lenox Avenue corridors.

Neighborhood Highlights

East 116th Street is an important neighborhood commercial corridor serving East Harlem and surrounding Upper Manhattan communities. The area combines substantial residential density with restaurants, grocery stores, pharmacies, financial services, healthcare providers, fitness concepts, neighborhood retailers, and other service businesses.

Transportation is a major advantage. The 6 train at 116th Street is approximately 0.13 miles from the property, while the 2 and 3 trains at 116th Street are approximately 0.34 miles away. The 4, 5, and 6 trains at 125th Street are also within approximately 0.44 miles.

The property is also within convenient reach of Central Park North, Marcus Garvey Park, the 125th Street commercial district, and the broader Harlem retail market. The combination of residential density, transportation access, and neighborhood commercial activity can support both convenience-oriented and destination retail concepts.

At an asking rent of $20,000 per month, annual base rent is approximately $240,000.

Based on approximately 1,900 square feet, the asking rent equates to approximately $126.32 per square foot per year, or approximately $10.53 per square foot per month.

Prospective tenants should confirm whether the stated 1,900 SF represents ground-floor selling space exclusively or includes basement, storage, or other areas, as public building records indicate a smaller historical commercial-area figure. Additional rent, real estate tax escalations, utilities, insurance, tenant improvements, signage rights, venting capabilities, and other occupancy expenses should also be confirmed during lease negotiations.

Summary

The approximately 1,900 SF retail opportunity at 89 East 116th Street, New York, NY 10029, is offered at $20,000 per month, equivalent to approximately $126.32 per square foot annually.

Located near Park Avenue in East Harlem, the property benefits from a dense surrounding residential population, established commercial activity, and convenient access to the 6 train as well as the 2 and 3 subway lines. The building itself is an established five-story mixed-use property dating to 1910.

With a manageable 1,900-square-foot footprint and prominent 116th Street positioning, the space represents a potential opportunity for general retail, financial services, wellness, beauty, specialty food, medical-related retail, or other neighborhood-oriented concepts, subject to permitted use and final lease terms.