Renovated Floor-Through Office
For Sale
$4,880,000
10a-866 2nd Ave, New York, NY 10003
Newly renovated floor-through office with an open layout, large windows, and direct elevator access in Midtown East.
Property Size6,450 SF
Price / SF$756.59
Days on Market233
Property Features for 10a-866 2nd Ave
General Information
Standard status
Active
Size
6,450 SF
Site & Location
Neighborhood
Downtown
Taxes and HOA fees
Annual Taxes
$82,163
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Source:
Exprealty
Added: Mar 17
Changed: Oct 25
Last Checked: Nov 3 at 8:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of B Square Realty
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Investment Insights
Based on property information with market context.
This newly renovated, floor-through office condominium offers an open layout designed for flexible workspace planning. The space includes large windows that bring in natural light and a clean, efficient interior arrangement suitable for professional office use. Direct elevator access provides convenient entry into the unit.
Located in Midtown East, the property is described as being just two blocks from Grand Central Station. The building also is noted as being near the United Nations and several consulates within the building, along with a spacious park nearby.
For owner-users, this condominium format supports an end-to-end workplace without relying on a separate tenancy. The combination of direct elevator access, an open floor plan, and natural light can support a range of professional office configurations, while the building’s surrounding institutional and transit context may be appealing for organizations seeking an established Midtown presence.
Located in Midtown East, the property is described as being just two blocks from Grand Central Station. The building also is noted as being near the United Nations and several consulates within the building, along with a spacious park nearby.
For owner-users, this condominium format supports an end-to-end workplace without relying on a separate tenancy. The combination of direct elevator access, an open floor plan, and natural light can support a range of professional office configurations, while the building’s surrounding institutional and transit context may be appealing for organizations seeking an established Midtown presence.
Key Highlights
- Newly renovated floor‑through office condominium in Midtown East with approximately 6,450 SF
- Open layout with large windows for natural light
- Direct elevator access for convenient arrival and use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$201,967
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,039,340
$4.0M
Cap Rate 7%
$2,885,243
$2.9M
Cap Rate 9%
$2,244,078
$2.2M
Market Conditions
NOI Build-Up for 6,450 SF
Gross rent
$332.0K $51.48/SF
− Vacancy
−$62.8K −$9.73/SF
EGI
$269.3K $41.75/SF
− OpEx
−$67.3K −$10.44/SF
NOI
$202.0K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,039,340
Cap Rate 7%
$2,885,243
Cap Rate 9%
$2,244,078
Alternative Uses
Best Use
Office B
$2.89M
$2.52M – $3.37M
NOI $201,967 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$16.05M
$14.05M – $18.73M
NOI $1,123,848 @ 7.0% cap · market cap 23.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
27,558
Businesses Nearby
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Business Placement
Demographics for 10003, NY
57,076
Population
30,730
Households
1.9
Avg Household Size
32
Median Age
82%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
95,127
Density / Sq Mi
$153,750
Median Household Income
$82,560
Median Earnings
$2,772
Median Rent
$1,137,000
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Newly renovated floor-through office with an open layout, large windows, and direct elevator access in Midtown East.
Where is this office unit located?
The property is located at 10a-866 2nd Ave New York, NY.
What is the asking price?
The asking price for this property is $4,880,000.
What are key features of this property?
This property features: Newly renovated floor‑through office condominium in Midtown East with approximately 6,450 SF; Open layout with large windows for natural light; Direct elevator access for convenient arrival and use
