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.
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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.
