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1183-1191 2nd Ave 2,508 SF Retail Condo Unit Offered at $5,725,000 in New York, NY 10065
Investment Highlights
- 1183 Second Avenue, New York, NY, 10065
- 1183 Second Avenue, New York, NY, 10065
Executive Summary
1183 Second Avenue is located at the nexus of the Plaza District and the Upper East Side, two of the city's most distinctive neighborhoods, and is part of a newly constructed luxury condominium project providing tenant appeal while protecting investors from the deferred maintenance of older buildings.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 5.50% |
| Sale Type | Investment |
| Cap Rate | 5.50% |
Description
As a new construction, fully occupied retail opportunity with new 10-year leases and minimal landlord responsibilities, 1183 Second Avenue provides investors with a secure investment and ease of ownership in one of NYC's premier neighborhoods.
Sale Notes
Real Estate Tax Reimbursements
Club Pilates and Randy's Donuts reimburse ownership for real estate tax increases above a base year. Reducing ownership's expense burden and providing protection against future tax increases. The reimbursement structure enhances the stability and predictability of cash flow.
Club Pilates and Randy's Donuts reimburse ownership for real estate tax increases above a base year. Reducing ownership's expense burden and providing protection against future tax increases. The reimbursement structure enhances the stability and predictability of cash flow.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1183 | 2,508 SF | Retail | $5,725,000 ($2,282.70/SF) | $315,137 |
Unit 1183
| Unit Size |
| 2,508 SF |
| Condo Use |
| Retail |
| Price |
| $5,725,000 ($2,282.70/SF) |
| NOI |
| $315,137 |
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Unit 1183
| Unit Size | 2,508 SF |
| Condo Use | Retail |
| Price | $5,725,000 ($2,282.70/SF) |
| NOI | $315,137 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Description | |
| As a new construction, fully occupied retail opportunity with new 10-year leases and minimal landlord responsibilities, 1183 Second Avenue provides investors with a secure investment and ease of ownership in one of NYC's premier neighborhoods.</li></ul> | |
| Sale Notes | |
| Real Estate Tax Reimbursements<br> <br> Club Pilates and Randy's Donuts reimburse ownership for real estate tax increases above a base year. Reducing ownership's expense burden and providing protection against future tax increases. The reimbursement structure enhances the stability and predictability of cash flow.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 207,284 SF | Floors | 21 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 8,682 SF |
| Property Subtype | Apartment | Year Built | 1964 |
| Building Class | C | Lot Size | 0.36 AC |
| Zoning | C2-8 - Commercial | ||
| Total Building Size | 207,284 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 21 |
| Typical Floor Size | 8,682 SF |
| Year Built | 1964 |
| Lot Size | 0.36 AC |
| Zoning | C2-8 - Commercial |
Amenities
Site Amenities
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Doorman
- Package Service
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 42 | - | 500 |
| 1+1 | 72 | - | 700 - 750 |
| 2+1 | 72 | - | 900 |
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Very bikeable
80/100
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
