The space is particularly well suited for restaurant, café, fast-casual, food and beverage, or other retail concepts. It is currently fully built out for food service and features an approximately 12-foot kitchen hood, existing gas service, a full basement, central air conditioning, and kitchen equipment, creating the potential for a substantially more turnkey restaurant opening compared with a raw retail space.

The property is part of a mixed-use retail and residential building originally constructed in 1900 and renovated in 1981. Public property records identify the building as a four-story mixed-use structure with residential units above the ground-floor commercial space.

Key Features

• Asking Rent: $20,000 / month
• Available Space: 1,200 SF
• Approximate Rent: $200.00 / SF / year
• Property Type: Ground-Floor Retail / Restaurant Storefront
• Lease Type: Sublease
• Rent Structure: Modified Gross
• Sublease Term: Through May 2035
• Building Type: Mixed-Use Retail / Residential
• Building Size: Approximately 5,336 SF gross leasable area
• Year Built / Renovated: 1900 / 1981
• Stories: 4 Stories
• Zoning: C1-7A, as identified in NYC Department of Buildings records
• Restaurant Infrastructure: Approximately 12-foot hood and existing gas service
• Basement: Full basement providing additional storage and operational space
• Build-Out: Fully built-out restaurant / fast-food space
• Equipment: Existing kitchen equipment and furnishings available with the premises
• HVAC: Central air conditioning
• Layout: Efficient restaurant and retail footprint with ground-floor customer-facing space and supporting basement area
• Transit Access: Steps from the L train at First Avenue, with additional access to the L, N, Q, R, W, 4, 5, and 6 lines at nearby Union Square.

Neighborhood Highlights

Located on First Avenue between East 13th and East 14th Streets, 231 First Avenue places a business in one of Downtown Manhattan’s most active dining, nightlife, and residential districts. The East Village is characterized by a dense mix of apartment buildings, restaurants, cafés, bars, specialty retailers, fitness concepts, and neighborhood service businesses, creating strong customer activity throughout the day and evening.

The storefront benefits from its proximity to East 14th Street, Union Square, and the First Avenue L station, with the L train entrance located less than 500 feet from the property. Union Square, approximately 0.4 miles away, provides connections to the L, N, Q, R, W, 4, 5, and 6 subway lines, offering convenient access from neighborhoods throughout Manhattan and Brooklyn.

The surrounding corridor also benefits from significant pedestrian activity associated with the East Village’s dense residential population, nearby NYU community, established restaurant scene, and customers traveling between Union Square and the neighborhood’s dining and nightlife destinations. The current leasing materials specifically highlight heavy daily First Avenue foot traffic and the property’s strong walk-by exposure.

For food and beverage operators in particular, the existing restaurant infrastructure is a major advantage. The space includes a 12-foot hood, active gas service, full basement, and existing kitchen equipment, potentially reducing the cost and time required to build out a new restaurant location. The current offering describes the premises as being in excellent condition and turnkey-ready.

Summary

The approximately 1,200 SF retail and restaurant storefront at 231 First Avenue, New York, NY 10003, is offered at an asking rent of $20,000 per month, equivalent to approximately $200 per square foot annually. Located in the heart of the East Village near East 14th Street, the property combines strong First Avenue visibility, heavy pedestrian activity, excellent subway access, and an established residential and dining customer base.

With its existing restaurant build-out, 12-foot hood, gas service, full basement, kitchen equipment, and long-term sublease availability through May 2035, the space represents a compelling opportunity for restaurant, café, fast-casual, specialty food, or other retail operators seeking a well-positioned and potentially turnkey East Village location.