Contacts
Avison Young - US - NY - New York
Avison Young - US - NY - New York
Avison Young
Property Details
- Property Type Other
- Property Size 3,755 SF
- Additional Rent Contact for pricing
- Date Updated Dec 20, 2024
Avison Young is pleased to present an opportunity to acquire 1390 ½ 2nd Avenue (the “Property”), a value-add mixed-use asset steps away from the 72nd Street subway station. The Property is located in the highly desirable Upper East Side neighborhood of Manhattan, between 71st Street and 72nd Street.
The Property is a 3,755 square feet, 4-story walk-up building. It consists of two free-market residential units, each occupying a full floor, and two floors of vacant commercial space. An investor can generate value by leasing up the vacant ground floor retail space and second floor office space, while bringing the existing residential tenant rents to market, given existing below market rents.
In addition, there are 6,645 SF of unused air rights that may be purchased separately.
Reach out to the broker for more info on lease terms and amenities
Highlights
- Value-Add Opportunity: Potential to increase revenue through leasing vacant office and retail spaces, and release below market residential rent
- Fully Free-Market: Residential units are free-market, providing flexibility in lease structuring
- Protected Tax Class: Tax class 2A caps assessed value increases at 8% per year and prevents increases from surpassing 30% over 5 years
- Proximity to Central Park and John Finley Walk: Close to Central Parks iconic attractions and John Finley Walk along the East River, offering residents access to green spaces and river views
Getting around
-
99/100
Walk Score ®
-
100/100
Transit Score ®
-
81/100
Bike Score ®
Location
- City New York, NY
- Neighborhood Lenox Hill
- Zip Code 10021
- Market Manhattan
Points of Interest
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72nd Street & 2nd Avenue at Northwest Corner
0.11 miles
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72nd Street & 2nd Avenue at Southeast Corner
0.12 miles
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East 68th Street & Lexington Avenue at Northeast Corner
0.20 miles
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East 68th Street & Lexington Avenue at Southeast Corner
0.20 miles
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East 68th Street & Lexington Avenue at Northwest Corner
0.21 miles
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68th Street–Hunter College
0.21 miles
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East 68th Street & Lexington Avenue at Southwest Corner
0.22 miles
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East 77th Street & Lexington Avenue at Southeast Corner
0.31 miles
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East 77th Street & Lexington Avenue at Southwest Corner
0.31 miles
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77th Street
0.32 miles
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ChargePoint
0.43 miles
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plugNYC
0.97 miles
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Shell
1.26 miles
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BP
1.37 miles
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Citgo
1.38 miles
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Atlantic
1.40 miles
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Sunoco
1.44 miles
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Mobil
1.54 miles
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iClean
0.09 miles
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Surrey Garage
0.46 miles
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Loeb Boathouse Parking Lot
0.61 miles
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Metropolitan Museum
0.63 miles
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Motorgate Public Parking Garage
0.79 miles
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Quik Park
0.84 miles
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Central Parking
0.93 miles
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Alpha Garage
0.95 miles
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Knickerbocker Plaza Car Park
1.04 miles
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Astor Terrace Parking Garage
1.13 miles
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Ronald McDonald House New York
0.31 miles
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The Gardens Sonesta ES Suites
0.35 miles
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The Carlyle
0.38 miles
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The Surrey
0.41 miles
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Plaza Athénée
0.44 miles
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The Mark
0.45 miles
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The Palladin
0.49 miles
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Lowell Hotel
0.51 miles
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Loews Regency
0.55 miles
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The Bentley Hotel
0.63 miles
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Morton Williams
0.05 miles
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Target
0.08 miles
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Nordstrom
0.10 miles
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Whole Foods Market
0.14 miles
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Ouri's Market
0.19 miles
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Gristedes
0.24 miles
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A Matter of Health
0.25 miles
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Daona Market Place
0.25 miles
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D'Agostino
0.26 miles
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Bloomingdale's
0.59 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
