Listing Agency: Newmark - Corporate a***@nmrk.com Show Phone

Listed By: Andrew Stern

Source: Moodyscre

Added: Oct 8, 2025 Changed: Jul 6 Last Checked: Jul 21 at 4:12AM

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Investment Insights

Based on property information with market context.

This retail space features a prep area in the basement with a dedicated outdoor staircase for loading and deliveries. The property offers potential for outdoor seating. It benefits from a dense residential, office, and student population due to its proximity to Baruch College, the School of Visual Arts, and Yeshiva Women’s College. The property size is 1500 square feet.

Key Highlights

• Prep area in Basement with dedicated outdoor staircase for loading and deliveries
• Potential for outdoor seating
• Dense residential population

Property Analytics

Property Profile

Current Use

Penelope Restaurant

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Pet Grooming Service Buffet Butcher Auto Parts Store Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

Location Intelligence

Trade Area within ½ mile

2,208

Businesses Nearby

Explore this area Business Placement

Market

Lease Benchmarks for New York, NY

$89.62 /SF/Yr

Avg Asking Price

$12–$250 /SF/Yr

Price Range

2,906 SF

Avg Space Size

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - Retail space with basement prep area and outdoor seating potential.

Where is this retail space located?

The property is located at 159 Lexington Ave New York, NY.

What are key features of this property?

This property features: Prep area in Basement with dedicated outdoor staircase for loading and deliveries; Potential for outdoor seating; Dense residential population