The reigning champions scored first through Lescott in the 40th minute before Gunners defender Laurent Koscielny levelled with eight minutes remaining at Etihad Stadium for a 1-1 draw.
It was just the third time in 31 home matches that City had points taken from them but Lescott spoke highly of Arsenal who made life very difficult for he and his teammates.
"We probably didn't get going as much as we'd like but we showed another side of our game is resilience and unfortunately for us we conceded late on,” he told the club’s official website.
"We didn't get in a rhythm for long enough. Arsenal made it hard for us at times and they're a good team, so it's not a negative result but we're used to winning at home and we're bitterly disappointed to concede."