2147 2nd avenue
NEWLY CONSTRUCTED ELEVATOR BUILDING FOR SALE
Planned 2nd Avenue Subway Line
2 1 4 7 2 ND AV E N U E Property Information Location:
West side of 2nd Ave. between East 110th St. and East 111th St.
Block / Lot:
1660 / 24
Zoning / FAR:
C1-5/R8A / 6.02
Lot Dimensions:
25.25’ x 100’
Building Dimensions:
24.92’ x 100’
Stories:
9
6
Q T
Ricardo Steakhouse La Tropezienne Bakery
6
Rao’s
Gross Sq. Ft.:
16,128
Units:
16 Residential & 1 Commercial
Assessment (14/15)
$1,847,925
Cascalote Bistro
Taxes (14/15):
$4,989
East River Plaza
Patsy’s Pizzeria D’amore Winebar
Q T
Massey Knakal Realty Services has been retained on an exclusive basis to arrange for the sale of 2147 2nd Avenue. The subject property is a newly constructed, mixed-use, 9-story elevator building located on the west side of 2nd Avenue between East 110th Street and East 111th Street. The building, which will be delivered vacant, contains 1,950 square feet of commercial space on the ground floor and 16 residential units on the second through ninth floor. New ownership will have the opportunity to operate the building as a mixed-use rental building or convert the building to condominiums. Average rents and condominium sellout values have steadily risen in the surrounding area; currently apartments rent for an average of $45 to $50 per square foot and condominium sellout values are north of $800 per square foot. There is also a 421a tax exemption in place, currently in year 4 of 15, which is set to expire in June of 2026. 2147 2nd Avenue is located in the heart of the vibrant East Harlem community within walking distance of Central Park as well as the East River Plaza, Northern Manhattan’s premier shopping destination. Public transportation is easily accessible by the 6 subway line stop at East 110th Street and Lexington Avenue. The 2nd Avenue Subway, when complete, will transform Manhattan’s east side; funding for Phase II of the project, which includes the 106th Street stop and the 116th Street stop was approved in August 2014. To receive a confidential memorandum or to schedule a property inspection, please contact Exclusive Agents:
Lev Kimyagarov
Jack Fornaciari
Director of Sales 212.660.7729 [email protected]
Associate 212.660.7757 [email protected]
ASKING PRICE
$8,000,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above as well as the investment income, the tax bracket and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
NEWLY CONSTRUCTED ELEVATOR BUILDING FOR SALE
2 1 4 7 2 ND AV E N U E Unit
Net SF
Terrace SF
Commercial
1,950
-
2A
620
665
2B
660
-
3A
620
85
3B
660
-
4A
620
85
4B
660
-
5A
620
85
5B
660
-
6A
620
85
6B
660
-
7A
620
85
7B
660
-
8A
620
85
8B
520
103
9A
620
85
9B
520
90
To receive an investment memorandum or to schedule a property inspection, please contact Exclusive Agents:
Lev Kimyagarov
Jack Fornaciari
Director of Sales 212.660.7729 [email protected]
Associate 212.660.7757 [email protected]
ASKING PRICE
$8,000,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above as well as the investment income, the tax bracket and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
Planned 2nd Avenue Subway Line
2 1 4 7 2 ND AV E N U E Property Information Location:
West side of 2nd Ave. between East 110th St. and East 111th St.
Block / Lot:
1660 / 24
Zoning / FAR:
C1-5/R8A / 6.02
Lot Dimensions:
25.25’ x 100’
Building Dimensions:
24.92’ x 100’
Stories:
9
6
Q T
Ricardo Steakhouse La Tropezienne Bakery
6
Rao’s
Gross Sq. Ft.:
16,128
Units:
16 Residential & 1 Commercial
Assessment (14/15)
$1,847,925
Cascalote Bistro
Taxes (14/15):
$4,989
East River Plaza
Patsy’s Pizzeria D’amore Winebar
Q T
Massey Knakal Realty Services has been retained on an exclusive basis to arrange for the sale of 2147 2nd Avenue. The subject property is a newly constructed, mixed-use, 9-story elevator building located on the west side of 2nd Avenue between East 110th Street and East 111th Street. The building, which will be delivered vacant, contains 1,950 square feet of commercial space on the ground floor and 16 residential units on the second through ninth floor. New ownership will have the opportunity to operate the building as a mixed-use rental building or convert the building to condominiums. Average rents and condominium sellout values have steadily risen in the surrounding area; currently apartments rent for an average of $45 to $50 per square foot and condominium sellout values are north of $800 per square foot. There is also a 421a tax exemption in place, currently in year 4 of 15, which is set to expire in June of 2026. 2147 2nd Avenue is located in the heart of the vibrant East Harlem community within walking distance of Central Park as well as the East River Plaza, Northern Manhattan’s premier shopping destination. Public transportation is easily accessible by the 6 subway line stop at East 110th Street and Lexington Avenue. The 2nd Avenue Subway, when complete, will transform Manhattan’s east side; funding for Phase II of the project, which includes the 106th Street stop and the 116th Street stop was approved in August 2014. To receive a confidential memorandum or to schedule a property inspection, please contact Exclusive Agents:
Lev Kimyagarov
Jack Fornaciari
Director of Sales 212.660.7729 [email protected]
Associate 212.660.7757 [email protected]
ASKING PRICE
$8,000,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above as well as the investment income, the tax bracket and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
NEWLY CONSTRUCTED ELEVATOR BUILDING FOR SALE
2 1 4 7 2 ND AV E N U E Unit
Net SF
Terrace SF
Commercial
1,950
-
2A
620
665
2B
660
-
3A
620
85
3B
660
-
4A
620
85
4B
660
-
5A
620
85
5B
660
-
6A
620
85
6B
660
-
7A
620
85
7B
660
-
8A
620
85
8B
520
103
9A
620
85
9B
520
90
To receive an investment memorandum or to schedule a property inspection, please contact Exclusive Agents:
Lev Kimyagarov
Jack Fornaciari
Director of Sales 212.660.7729 [email protected]
Associate 212.660.7757 [email protected]
ASKING PRICE
$8,000,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above as well as the investment income, the tax bracket and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
