Introducing a prime investment opportunity in the heart of New York City’s Central Business District (CBD), 698 2nd Avenue is a 4-story, 5,460-square-foot mixed-use property, blending retail and residential spaces. Priced at $7,550,000(or $1,382.78 per square foot), this property is well-suited for investors or owner-users seeking a versatile asset with significant potential in a bustling Manhattan location.
- Address: 698 2nd Avenue, New York, NY 10016
- Sale Price: $7,550,000
- Price per Square Foot: $1,382.78
- Sale Type: Investment or Owner-User
- Property Type: 3-Star Retail Storefront with Residential Units
- Location: Central Business District, New York City
- Gross Leasable Area (GLA): 5,460 sq. ft.
- Stories: 4
- Typical Floor Size: 1,070 sq. ft.
- Building Class: B
- Construction: Reinforced Concrete
Key Features:
Prime CBD Location
Located on 2nd Avenue in New York City’s vibrant Central Business District, this property offers excellent visibility and accessibility in a high-traffic area. The neighborhood’s dynamic blend of offices, retail, and residential units attracts a diverse mix of locals and visitors, providing ample foot traffic and a steady client base for retail and residential tenants.
Adaptable Mixed-Use Layout
With a total of 5,460 square feet distributed across four stories and a typical floor size of 1,070 square feet, this property combines retail storefront and residential space, making it ideal for a variety of uses. The flexible layout offers opportunities for maximizing rental income, catering to either an investor or an owner-user with tailored needs.
Solid Investment Potential
Listed at $7,550,000, this property represents a valuable investment in one of Manhattan’s most coveted areas. Its B-class rating and durable reinforced concrete construction enhance its appeal, while the mixed-use classification ensures steady demand for both retail and residential spaces.
Conclusion:
698 2nd Avenue presents an excellent opportunity for investors or owner-users looking to establish a foothold in New York City’s competitive real estate market. With its prime location, adaptable design, and solid investment potential, this property is well-positioned for success in the dynamic retail and residential sectors of Manhattan’s CBD
