For Lease – 1516 Park Avenue, New York, NY 10029
Asking Rent: $120,000 / month
Size: 5,775 SF
Property Type: Retail
Location: East Harlem / Upper Manhattan (10029)
Property Overview
1516 Park Avenue offers a 5,775 SF retail opportunity with prominent Park Avenue frontage in East Harlem. Located near one of Upper Manhattan’s most active retail and cultural corridors, this space is well-positioned for national retailers, grocery/market operators, fitness, medical/wellness, or food & beverage tenants seeking scale and visibility.
Read More
Key Features
- Total Size: ≈5,775 SF
- Asking Rent: $120,000 / month
- Annualized Rent: ≈$1,440,000
- Effective Rent per SF: ≈$249/SF annually
- Frontage: Strong Park Avenue exposure with excellent branding and signage potential
- Layout: Expansive, flexible floorplate adaptable for large-format retail or service use
- Building: Mixed-use property with residential density above and strong neighborhood foot traffic
Lease & Terms
- Base Rent: $120,000 / month (~$249/SF/YR)
- Term: Negotiable (long-term preferred)
- Availability: Immediate / by agreement
- Due at Signing: First month + security deposit; tenant financials required
- Tenant Responsibilities: Utilities, RE taxes, and standard retail lease obligations
Market Profile
- Location Advantage: Situated along Park Avenue in East Harlem, with proximity to 116th Street retail, community institutions, and major redevelopment projects.
- Transit Access: Convenient to 116th Street (6) and 125th Street (4/5/6, Metro-North at Park Ave).
- Neighborhood Demand: Strong demand for large-format retailers, medical users, food markets, and community services.
- Competitive Advantage: Rare 5,700+ SF Park Avenue retail space in Upper Manhattan at a highly visible corridor.
Summary
The 5,775 SF retail space at 1516 Park Avenue, New York, NY 10029 is offered at $120,000/month (~$249/SF annually). With its generous floorplate, prominent frontage, and prime East Harlem location, this property presents an exceptional opportunity for retailers and operators seeking presence in Upper Manhattan.
