For Sale: Mixed-Use Retail/Residential Building – 698 2nd Avenue, New York, NY 10016
Asking Price: $7,200,000
Price/SF: $1,318.68
GLA: 5,460 SF
Stories: 4
Typical Floor Size: 1,070 SF
Property Type: 3-Star Retail Storefront / Residential
Use: Investment or Owner-User
Investment Profile: Opportunistic
Status: Active
Location: Midtown East / Central Business District (CBD), Manhattan
Property Overview:
698 2nd Avenue presents a rare opportunistic investment or owner-user purchase in the heart of Manhattan’s Midtown East neighborhood. This four-story, mixed-use property offers approximately 5,460 square feet of gross leasable area and features storefront retail on the ground floor with residential or office use on the upper floors.
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Located on a high-visibility block in the Central Business District (CBD), the property is surrounded by strong foot traffic, dense residential population, and established neighborhood retail. The building is well-positioned for repositioning, value-add upgrades, or long-term hold with stable income potential.
Key Features:
- Prime Midtown East location between East 37th & East 38th Streets
- Ground-floor retail with high visibility and stable demand
- Three additional stories suitable for residential, office, or hospitality conversion
- Class B construction with solid infrastructure and layout flexibility
- Near Grand Central Terminal, UN Headquarters, and major office corridors
Investment Highlights:
- Total Building Size: 5,460 SF over 4 stories
- Asking Price: $7,200,000 ($1,318.68/SF)
- Investment Type: Opportunistic – ideal for repositioning or long-term owner-user
- Zoning & Configuration: Flexible use mix with potential upside
- Strong Demand Corridor: Surrounded by dense residential, retail, and office mix
Conclusion:
698 2nd Avenue offers a compelling opportunity for investors or end-users to acquire a mixed-use asset in a high-demand Midtown East corridor. Whether for long-term appreciation, rental income, or adaptive reuse, this property provides flexibility, location, and value in one of Manhattan’s most established neighborhoods.
Contact us today for offering memorandum, rent roll, or to schedule a private showing.
