Wednesday, April 2, 2025

On 3rd Avenue, the East Village’s slimmest storefront is up for rent

A sliver of a storefront — just a door’s width — at 99 Third Ave. is now for rent. 

The listing at Meridian Capital Group says this about the 300-square-foot space: 
... perfect for any to-go/takeout concepts 
Great frontage opportunity 
High ceilings 
Steps from Union Square with 24/7 foot traffic 
Asking rent: $3,995.

A cafe called Stella Breeze was here for several months, closing up earlier this year. 
In 2023, a short-lived smoke shop was the first retail tenant here between 12th Street and 13th Street.

As far as we can recall (and a look at Google Street View confirms), this was previously an entrance to the residential building.
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9 comments:

  1. AnonymousApril 2, 2025 at 6:38 AM

    Ah, the ever-popular phrase "Steps from Union Square"! Yes, MANY steps from Union Square ... a long cross-town block plus 1.5 north/south blocks.

    And come on: $4,000/month rent? How many coffees would you have to sell to cover the rent, much less to make any money for yourself? It's absurd!

    ReplyDelete
    Replies
    1. MTA614April 2, 2025 at 8:30 AM

      Assuming a $5 coffee on average (drips are now $4 in the EV, sadly), that's that's 800 to sell before costs. Let's say you can get a 70% margin based on some ChatGPT COGS math and that's ~1150 coffees to sell to break even, not including other utilities or labor (or taxes). Let's just double the number to cover those costs as an estimate. That's 2300 coffees, or 77 a day or, if you're open 8 hours a day, 10 an hour, every hour, every day.

      And at best you're paying yourself way below median HHI.

      Delete
    2. AnonymousApril 2, 2025 at 5:28 PM

      Barista wages are around $25 an hour, so that´s $200/day + $133 in rent + say $30 utilities because that espresso machine takes some power + ice maker or buy ice + depreciation + maintenance + garbage carting + insurance. Good luck with those 10 cups an hour :)

      Delete
  2. AnonymousApril 2, 2025 at 7:50 AM

    How in the world is that entry way ADA compliant?

    ReplyDelete
  3. MTA614April 2, 2025 at 8:24 AM

    Setting aside the completely ludicrous $4k asking price, this is the kind of space that if it were in a Japanese metro, it would be uniquely converted into a super cool, super unique concept. I realize the parasite landlord class doesn't think this way, but if it were my I'd make this a rotating shop storefront, take applications for different ideas (a new one every 3 months or so), and work out a cheaper rent / rev share model to encourage some crazy entrepreneurial spirit.

    ReplyDelete
    Replies
    1. GrieveApril 2, 2025 at 8:35 AM

      Like your idea, MTA614!

      Delete
    2. AnonymousApril 2, 2025 at 10:37 AM

      Market dictates rent. Can't force someone to pay a commercial rent they don't want to.

      Delete
  4. jApril 2, 2025 at 11:26 AM

    That is a great idea. Kind off reminds me of the many super cool shops we used to have before the rise of the uberpredatory capitalist landlords.

    ReplyDelete
  5. AnonymousApril 2, 2025 at 5:32 PM

    Liquor license??

    ReplyDelete

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