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174 1st Ave 1,700 SF of Retail Space Available in New York, NY 10009
SUBLEASE HIGHLIGHTS
- Prime East Village location surrounded by renowned restaurants.
- Steps from the L train at 1st Avenue Station; quick connections to Union Square for 4/5/6, N/Q/R/W lines.
- Approximately 25 minutes to LaGuardia Airport and 40 minutes to JFK via car or public transit.
- Fully vented kitchen with gas for versatile culinary operations.
- Served by M15 and M14A/D buses, providing convenient north-south and crosstown travel.
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- CEILING
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Ceiling | Term | Rental Rate | Rent Type | |
| 1st Floor | 1,700 SF | 9’ | Apr 2039 | $163.85 CAD/SF/YR $13.65 CAD/SF/MO $278,545 CAD/YR $23,212 CAD/MO | Modified Gross |
1st Floor
Turnkey restaurant opportunity located at 174 First Avenue in the heart of the East Village. The space is currently operated as Bananas and features a one-year-old installation in excellent condition. The premises comprise approximately 1,700 square feet with 15 feet of frontage and are fully built out with gas and venting in place, a fully equipped open kitchen, and all major restaurant infrastructure installed. The existing layout accommodates approximately 70 seats, allowing an incoming operator to open quickly with minimal capital expenditure. The East Village location benefits from strong residential density, consistent foot traffic, and close proximity to nightlife, retail, and transit. Available via sublease or lease assignment for a qualified operator.Key Money upon request
- Sublease space available from current tenant
- Listed rate may not include certain utilities, building services and property expenses
- Fully Built-Out as a Restaurant or Café Space
- Located in-line with other retail
- Space is in Excellent Condition
- Finished Ceilings: 9’
- Hardwood Floors
- Trunkey Restaurant
- Open Kitchen
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT 174 1ST AVE, NEW YORK, NY 10009
- TENANT
- DESCRIPTION
- US LOCATIONS
- REACH
- Blackseed Bagels
- -
- 1
- -
- ChimbaKKC LLC
- -
- 1
- -
- Emilia By Nai
- -
- 1
- -
| TENANT | DESCRIPTION | US LOCATIONS | REACH |
| Blackseed Bagels | - | 1 | - |
| ChimbaKKC LLC | - | 1 | - |
| Emilia By Nai | - | 1 | - |
PROPERTY FACTS
| Total Space Available | 1,700 SF | Gross Leasable Area | 4,100 SF |
| Property Type | Retail | Year Built | 1900 |
| Property Subtype | Storefront Retail/Residential |
| Total Space Available | 1,700 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Residential |
| Gross Leasable Area | 4,100 SF |
| Year Built | 1900 |
ABOUT THE PROPERTY
Positioned in the heart of a vibrant East Village corridor, 174 First Avenue offers a rare opportunity to acquire a fully built-out restaurant space with exceptional visibility and strong neighborhood synergy. This property features approximately 1,700 square feet of thoughtfully designed interiors complemented by a storage and prep basement, ensuring operational efficiency for any culinary concept. The installation is just one year old, presenting a turnkey solution for investors or operators seeking minimal upfront renovation costs. The space boasts 15 feet of prime frontage and seating for up to 70 guests, creating an inviting atmosphere for high-volume dining. Fully vented with gas, the property supports diverse menu offerings and advanced kitchen capabilities. Surrounding the site is a dynamic mix of iconic eateries and trendy establishments, including Momofuku Noodle Bar, Veniero’s, and Sauce Pizzeria, reinforcing the area’s reputation as a culinary destination. With a long-term lease in place until April 2039, this asset combines stability with growth potential in one of Manhattan’s most sought-after neighborhoods.
NEARBY MAJOR RETAILERS
Presented by
AJN Realty Advisors
174 1st Ave
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