1750-1752 Second AvenueNew York, NY 10128
1750-1752 Second Avenue
Asset ClassMixed Use, Multifamily
Second Avenue
Overview
The New York Multifamily team is pleased to exclusively offer for sale 1750 Second Avenue and 1752 Second Avenue, located in the Yorkville neighborhood. Located on the East side of Second Avenue between East 91st Street and East 92nd Street, these two adjacent mixed-use buildings include 20-units comprised of approximately 15,070 square feet with 50’ of frontage. These properties sit on a 50’x80’ lot (Block: 1554 and Lot: 2 & 3) and are built 65’ deep. The properties are zoned C2-8 and do not come with available air rights.
Investment Highlights
- Newly Renovated Apartments with High End Finishes: The apartments feature plank hardwood flooring, exposed brick, renovated kitchens with all custom cabinetry, condo-like finishes, dishwasher, renovated bathrooms, and in-unit washer and dryer.
- 1750 Second Avenue | 100% Free Market Status: All the residential apartments in 1750 2nd Avenue are 100% Free Market, giving potential buyers future rental upside and flexibility.
- 1752 Second Avenue | 50% Free Market Status: 4 of the 8 residential apartments are Free Market. Of the 4 remaining apartments, 2 are Rent Controlled and 2 are Rent Stabilized.
- Desirable Location: Yorkville is a highly desirable residential and retail neighborhood. This building is across the street from Ruppert Park, steps away from a variety highly trafficked retail / restaurants, schools, nearby train and bus transportation, and Central Park.
- Retail Repositioning Opportunity: With a variety of retail lease expirations ranging from 2025 – 2034, a buyer can reposition certain spaces with stable / guaranteed income from the in place residential and commercial tenants.
- Tax Class Protected 2B: By law, taxes cannot increase more than 8% year-over-year or 30% over any given 5-year period. This acts as a great hedge against future rising taxes.
1750-1752 Second AvenueNew York, NY 10128
Deal Team
Listing provided by LightBox Revere