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Mixed-Use

973 Second Avenue

973 2nd Ave, New York, NY 10022

Listing Price: $6,200,000

Cap Rate
4.08%
Number of Units
4
Occupancy
100.0%
Price/Unit
$1,550,000
Price/Gross SF
$1,336.21
Gross SF
4,640

Investment Overview

Marcus & Millichap is the exclusive sales broker for 973 Second Avenue (“Property”), a walk-up mixed-use building on Second Avenue between East 51st and 52nd Streets in Midtown East. The Property contains one commercial space and three free-market apartments. The commercial space is vented, currently occupied by Buttercup Bake Shop, includes a full basement and is approximately 1,400 square feet above-grade. The apartments are oversized one-bedrooms with front-to-back layouts.

The building measures 20 feet by 68 feet totaling approximately 4,640 square feet and sits on a 20 by 70-foot R10-zoned lot with 9,366 square feet of unused development rights.

The Property is a two-block walk to both the 51st Street/Lexington Avenue subway station (6-train) and 53rd Street/Lexington Avenue (E-train & F-train). The Property is centrally located on Second Avenue surrounded by dense retail and major development.

Investment Highlights

  • Mixed-Use Building in Midtown East
  • One Commercial Space & Three Floor-Through Apartments
  • All Apartments are Free-Market
  • 9,300 SF of Unused Development Rights
  • Near E, F & 6 Trains on Second Avenue

Exclusively Listed By

Mixed-Use

973 Second Avenue

Listing Price: $6,200,000

Cap Rate
4.08%
Number of Units
4
Occupancy
100.0%
Price/Unit
$1,550,000
Price/Gross SF
$1,336.21
Gross SF
4,640

Investment Highlights

  • Mixed-Use Building in Midtown East
  • One Commercial Space & Three Floor-Through Apartments
  • All Apartments are Free-Market
  • 9,300 SF of Unused Development Rights
  • Near E, F & 6 Trains on Second Avenue

Investment Overview

Marcus & Millichap is the exclusive sales broker for 973 Second Avenue (“Property”), a walk-up mixed-use building on Second Avenue between East 51st and 52nd Streets in Midtown East. The Property contains one commercial space and three free-market apartments. The commercial space is vented, currently occupied by Buttercup Bake Shop, includes a full basement and is approximately 1,400 square feet above-grade. The apartments are oversized one-bedrooms with front-to-back layouts. The building measures 20 feet by 68 feet totaling approximately 4,640 square feet and sits on a 20 by 70-foot R10-zoned lot with 9,366 square feet of unused development rights. The Property is a two-block walk to both the 51st Street/Lexington Avenue subway station (6-train) and 53rd Street/Lexington Avenue (E-train & F-train). The Property is centrally located on Second Avenue surrounded by dense retail and major development.

Exclusively Listed By

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