Introducing a unique investment opportunity at 157-161 E 22nd Street, located in New York City’s bustling Flatiron District. This 2-star retail/residential building spans four stories with a total gross leasable area (GLA) of 6,000 square feet and is listed for sale at $8,995,000, equating to $1,499.17 per square foot. This property offers a blend of commercial and residential spaces, presenting excellent income potential in one of Manhattan’s most desirable locations.
Property Details:
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- Address: 157-161 E 22nd Street, New York, NY 10010
- Sale Price: $8,995,000 ($1,499.17 per SF)
- Sale Type: Investment
- Property Type: 2-Star Retail/Residential Storefront
- Location: Central Business District (CBD), Flatiron District, Manhattan
- Gross Leasable Area (GLA): 6,000 SF
- Stories: 4
- Typical Floor Area: 1,500 SF
- Building Class: Class C
- Ceiling Height: 9 feet
- Construction Type: Masonry
Investment Highlights:
- Prime Flatiron CBD Location: Situated in the Flatiron District, this property is in the heart of one of Manhattan’s busiest commercial areas, known for its mix of office buildings, dining establishments, and high-end residential units. The location attracts a high volume of foot traffic and provides easy access to transportation, making it appealing for both retail and residential tenants.
- Mixed-Use Income Potential: With retail space on the ground level and residential or office units above, this property offers multiple revenue streams. The street-level retail space is ideal for a variety of businesses, while the upper floors provide excellent leasing potential for residential or commercial use, maximizing income opportunities in a high-demand area.
- Value-Add Opportunity: The Class C designation and 9-foot ceilings offer investors potential for future enhancements or upgrades, which could increase the property’s value and revenue. Located in a coveted submarket, this building presents an opportunity for value appreciation through strategic improvements.
Conclusion:
157-161 E 22nd Street is an outstanding investment opportunity in Manhattan’s Flatiron District. Priced at $8,995,000, this property combines retail and residential potential in a high-traffic, central location. With flexible income options, a prime Flatiron address, and opportunities for value enhancement, this property is ideal for investors seeking a versatile asset in New York City’s competitive real estate market.
