Seven-Story Loft Apartment
For Sale
$7,000,000
223 E 2nd Street, New York, NY 10009
COMMERCIAL - Other - New York, NY
Property Size15,185 SF
Lot Size0.05 Acres
Price / SF$460.98
Days on Market54
Property Features for 223 E 2nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
14
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 10, Bathroom 6, Bedroom 6, Bedroom 2, Bedroom 3, Bedroom 11, Bathroom 4, Bedroom 12, Bathroom 3, Bedroom 13, Bathroom 5, Bedroom 1, Bathroom 1, Bedroom 9, Bedroom 4, Bathroom 7, Bathroom 2, Bedroom 8, Bedroom 5, Bedroom 7, Bedroom 14
Subdivision
E. Greenwich Village
High school district
000000
Standard status
Active
Size
15,185 SF
Lot size
0.05 Acres
Amenities
rooftop
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Esteban Gomez
Added: Jun 9
Changed: Aug 1
Last Checked: Aug 1 at 12:06PM
MLS# 11816342
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
223 E 2nd Street is a seven-story masonry walk-up built in 1900 featuring six open loft units, plus ground-floor commercial and a full basement. The building includes original architectural details such as ornate brick and terracotta work, arched windows, a decorative cornice, carved stonework, and an original wrought iron balustrade staircase. An elevator shaft is already in place for future installation, and the flat rooftop is unobstructed with open Manhattan skyline views.
The property totals 15,185 square feet of gross floor area, comprised of 13,260 square feet of residential space across the six units and 1,925 square feet of commercial space at street level. Ceilings vary by floor, including 10'4" on the seventh floor, 10'9" on the sixth floor, 10'8" on the fifth floor, 9'10" on floors 3–4, and 10'2" on the ground-floor commercial level. The lot measures 24.75 feet by 88.25 feet.
Tenancy is structured around an IMD designation: the building is registered as an IMD, and it is listed as having one unit covered with one coverage application filed. The narrative statement was filed and amended in June 2025. Two tenants currently occupy two floors, and neither is paying rent; the building will be delivered vacant except for Units #3 and #4.
The property totals 15,185 square feet of gross floor area, comprised of 13,260 square feet of residential space across the six units and 1,925 square feet of commercial space at street level. Ceilings vary by floor, including 10'4" on the seventh floor, 10'9" on the sixth floor, 10'8" on the fifth floor, 9'10" on floors 3–4, and 10'2" on the ground-floor commercial level. The lot measures 24.75 feet by 88.25 feet.
Tenancy is structured around an IMD designation: the building is registered as an IMD, and it is listed as having one unit covered with one coverage application filed. The narrative statement was filed and amended in June 2025. Two tenants currently occupy two floors, and neither is paying rent; the building will be delivered vacant except for Units #3 and #4.
Key Highlights
- Six open loft units with original 1900 masonry walk‑up character
- Total 15,185 square feet GFA: 13,260 residential plus 1,925 square feet commercial at street level
- Lot size 24.75 ft x 88.25 ft
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $911.1k | $60.00 |
| − Vacancy | −$136.7k | −$9.00 |
| EGI | $774.4k | $51.00 |
| − OpEx | −$290.4k | −$19.13 |
| NOI | $484.0k | $31.88 |
15,185 SF · lease $60.00/SF/yr · vacancy 15.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$30.53M
$26.71M – $35.62M
NOI $2,136,902 @ 7.0% cap · market cap 30.53%
Second Best
Mixed Use
$6.91M
$6.05M – $8.07M
NOI $484,022 @ 7.0% cap · market cap 6.91%
Theoretical Best
Specialty Retail
$37.80M
$33.07M – $44.10M
NOI $2,645,834 @ 7.0% cap · market cap 37.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
14,954
Businesses Nearby
Explore this area
Business Placement
Demographics for 10009, NY
61,716
Population
32,375
Households
1.9
Avg Household Size
36
Median Age
63%
College-Educated
87%
High-School Grad
0.6 sq mi
ZIP Area
102,860
Density / Sq Mi
$87,963
Median Household Income
$84,069
Median Earnings
$1,925
Median Rent
$690,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-story 1900 building with six open loft units, ground-floor commercial, and a registered IMD delivery plan.
Where is this apartment building located?
The property is located at 223 E 2nd Street New York, NY.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Six open loft units with original 1900 masonry walk‑up character; Total 15,185 square feet GFA: 13,260 residential plus 1,925 square feet commercial at street level; Lot size 24.75 ft x 88.25 ft
