212-696-2500
, New York, NY for Sale
Multi-Family - FOR SALE
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250 East 49th Street
New York, NY
Turtle Bay


HIGHLIGHTS

  • Prime Midtown East Location: Rare opportunity to acquire a retail condominium one block from the United Nations.
  • Stable In-Place Cash Flow: Long-term, secure cash flow from MEDRITE Urgent Care.
  • Value-Add Opportunity: The vacant corner unit presents significant upside through subdivision into three retail spaces.
  • Highly Visible Corner Retail: Prominent corner location featuring floor-to-ceiling glass and 150+ feet of avenue frontage.
  • Midtown East Transformation: 15 million square feet of trophy office development, 5 million square feet of office-to-residential conversions, and 2.7+
  • Exceptional Connectivity: Minutes from Grand Central, the 4/5/6/7, Shuttle, Metro-North, LIRR, and the FDR Drive.

OVERVIEW

Cushman & Wakefield (“C&W”) has been exclusively retained to offer for sale the 100% fee simple interest in the Retail Condominium units at 250 East 49th Street (aka 919 Second Avenue), Block 1322, Lots 1301 and 1379 (the “Property”), located in Midtown East. Situated on the southwest corner of Second Avenue and East 49th Street, the Property consists of two units totaling 6,163 square feet above grade with 1,000 square feet below grade. There is 154 feet of wraparound frontage along both East 49th Street and Second Avenue. The vacant corner, Unit 1, is 3,735 square feet with over 65 feet of frontage on East 49th Street and 50 feet on Second Avenue. The space was previously occupied by TD Bank on a 20-year lease. There is ample frontage and square footage to divide the unit into three tenant spaces, capturing meaningful upside. Unit 2 is on a long-term lease to MEDRITE Urgent Care, a medical office providing outpatient services, which has occupied the space since 2010 and renewed its lease in 2025 for an additional ten-year term. The unit contains 2,428 square feet at grade and 1,000 square feet below grade. The operator’s long-term commitment provides nearly a decade of secure, in-place cash flow anchored by an essential-services use. 250 East 49th Street is in the heart of Midtown East, one of Manhattan’s most established residential and commercial neighborhoods. The Property is surrounded by a dense concentration of affluent enclaves, including Sutton Place, Beekman Place, and Tudor City, alongside a substantial office population anchored by the United Nations and the numerous corporate towers surrounding Grand Central. The Property offers exceptional transportation access via Grand Central Terminal, including the 4/5/6/7 subway lines, the Times Square Shuttle, Metro-North Railroad, and the Long Island Rail Road (LIRR). Immediate vehicular access is available via the FDR Drive.

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William ConradCushman & WakefieldMore Info
212-696-2500

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William ConradCushman & WakefieldMore Info
212-696-2500

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