Two-Unit Retail
85 1st Ave. New York, NY 10003
85 1st Ave., New York, NY, 10003
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For Sale
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Two fully occupied retail units with separate egress and below-grade storage in a corner condominium setting.
Property Size4,279 SF
Days on Market102
Property Features for 85 1st Ave.
General Information
- Standard status
- Active
- Size
- 4,279 SF
- Property subtype
- Retail, Multifamily
Listing agency
Ariel Property Advisors
(212) 544-9500
Listed by
Michael Tortorici · License #NY 401085153
Source
Crexi
Added: Apr 12 Updated: Jul 22 at 5:05AM Checked: Jul 22 at 5:05AM
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Investment Insights
Based on property information with market context.
This two-unit retail condominium totals 4,279 gross square feet of above- and below-grade space, offering a corner configuration plus an in-line unit. The corner unit comprises 3,536 square feet and is currently occupied by a long-term tenant, with a lower level that includes usable space and a separate means of egress. That lower level is currently used as an additional dining area and may provide flexibility for future uses within the same tenant space. The in-line unit comprises 1,193 square feet and is leased to a separate long-term tenant.
The property is located on the northwest corner of East 5th Street and 1st Avenue in Manhattan’s East Village. It is described as being near Tompkins Square Park and surrounded by retail, dining, and nightlife. Public transportation access includes the F train at the 2nd Avenue station, the 6 train at the Astor Place station, and the L train at the 1st Avenue station.
Per the lease terms, both tenants pay 3% annual rent escalations plus a proportionate share of real estate tax increases over their respective base years. The tenants also pay for water via sub-metering, gas, electricity, light, heat, power, and other utilities, along with nonstructural repairs and insurance responsibilities, subject to the lease specifics.
The property is located on the northwest corner of East 5th Street and 1st Avenue in Manhattan’s East Village. It is described as being near Tompkins Square Park and surrounded by retail, dining, and nightlife. Public transportation access includes the F train at the 2nd Avenue station, the 6 train at the Astor Place station, and the L train at the 1st Avenue station.
Per the lease terms, both tenants pay 3% annual rent escalations plus a proportionate share of real estate tax increases over their respective base years. The tenants also pay for water via sub-metering, gas, electricity, light, heat, power, and other utilities, along with nonstructural repairs and insurance responsibilities, subject to the lease specifics.
Key Highlights
- Two‑unit retail condominium at 85 1st Avenue in Manhattan’s East Village, fully occupied on long‑term leases.
- Total 4,279 gross SF across above- and below‑grade space, with unit sizes of 3,536 SF (corner) and 1,193 SF (in‑line).
- Corner unit includes lower level usable space with a separate means of egress, currently used as additional dining for the tenant.
Property Analytics
Location Intelligence
Current Use by Public Records
PALMER'S CONSTRUCTION NYC
Construction Company
SUMO4D RESTAURANT
Restaurant
Pixel Marsala
Marketing & Advertising
Mimouna Botanicals
Cosmetic Store
Similar For Sale Nearby
Similar Off Market Nearby
- Kikoo Sushi — 141 1st Ave., New York, NY 10003
- 99 Favor Taste — 285 Grand St, New York, NY 10002
FAQs
What type of property is this?
Conventional restaurant - Two fully occupied retail units with separate egress and below-grade storage in a corner condominium setting.
Where is this conventional restaurant located?
The property is located at 85 1st Ave. New York, NY.
What are key features of this property?
This property features: Two‑unit retail condominium at 85 1st Avenue in Manhattan’s East Village, fully occupied on long‑term leases.; Total 4,279 gross SF across above- and below‑grade space, with unit sizes of 3,536 SF (corner) and 1,193 SF (in‑line).; Corner unit includes lower level usable space with a separate means of egress, currently used as additional dining for the tenant.
