212-230-5998
1489 2nd Ave, New York, NY for Sale
Apartments CONDO - FOR SALE
1/5
null | Request Cap Rate

1489 2nd Ave
New York, NY 10075
Lenox Hill


HIGHLIGHTS

  • The condominium is fully leased under a new 10-year lease.
  • Immediate cash flow is provided by an established retail tenant.
  • The property is located within Manhattan's Upper East Side.
  • Strong neighborhood demographics support long-term retail demand.
  • Excellent visibility benefits from a prominent avenue location.
  • Limited retail condominium supply supports investment appeal.

OVERVIEW

Retail condominium investment opportunity consisting of approximately 1,650 rentable square feet fully leased to Salt & Straw under a newly executed 10-year lease. The asset provides immediate cash flow from an established and expanding retail brand while minimizing leasing and rollover risk through long-term occupancy. Located in a highly active Manhattan retail market, the condominium benefits from strong visibility, consistent pedestrian traffic, and a surrounding customer base of residents, employees, and visitors. The long-term lease structure offers predictable income generation and positions the property as a passive investment opportunity. Retail condominium offerings with newly executed leases are limited in supply, making this a compelling acquisition opportunity for investors seeking stable returns in an irreplaceable urban location. The property combines durable tenancy with desirable market fundamentals, creating an attractive long-term hold opportunity.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

255 East 77

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

170,481 SF

STORIES

36

BUILDING CLASS

A

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

C1-9

APN/PARCEL ID

1432-0021,1432-1101,1432-1106,1432-1109,1432-1115,1432-1117,1432-1128,1432-1130,1432-1134,1432-1137

ASK ABOUT THIS PROPERTY

Brandon PolakoffAvison YoungMore Info
212-230-5998

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Brandon PolakoffAvison YoungMore Info
212-230-5998

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.