Mixed-Use Walk-Up Development
1737 2nd Ave New York, NY 10128
1737 2nd Ave, New York, NY, 10128
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For Sale
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Fully occupied mixed-use walk-up on a 25-foot by 75-foot lot with Second Avenue frontage in C2-8 zoning.
Property Size7,500 SF
Lot Size0.04 Acres
Price / SF$733.33
Days on Market97
Property Features for 1737 2nd Ave
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Lot size
- 0.04 Acres
- Property subtype
- Mixed Use, Multifamily
Building Details
- Year Built
- 1920
Listing agency
Capital Realty Investors, Inc
Listed by
Flavia Zaguini · License #10311210405
Source
Crexi
Added: Apr 17 Updated: Jul 21 at 2:00PM Checked: Jul 21 at 2:00PM
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 Capital Realty Investors, Inc
Investment Insights
Based on property information with market context.
1737 Second Avenue is a fully occupied mixed-use walk-up building located in the Upper East Side/Yorkville area. The property sits on a 25-foot by 75-foot lot and provides 25 feet of frontage on Second Avenue. The asset includes approximately 11,250 square feet of unused development rights (“Air Rights”) in C2-8 zoning.
The building is positioned between 89th and 90th Streets, steps from Ruppert Park at the corner of 90th Street and 2nd Avenue, and near the 86th Street/2nd Avenue Q-Train Station.
With existing occupancy and a development component through unused air rights, the property offers a straightforward mixed-use hold with additional flexibility tied to the included development rights.
The building is positioned between 89th and 90th Streets, steps from Ruppert Park at the corner of 90th Street and 2nd Avenue, and near the 86th Street/2nd Avenue Q-Train Station.
With existing occupancy and a development component through unused air rights, the property offers a straightforward mixed-use hold with additional flexibility tied to the included development rights.
Key Highlights
- Fully occupied mixed‑use walk‑up building on a 25' x 75' lot in C2‑8 zoning
- 25 feet of frontage on Second Avenue
- Approximately 11,250 SF of unused development rights (air rights)
Local Financial Insights For Apartment 5plus
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 | $449.1k | $59.88 |
| − Vacancy | −$23.4k | −$3.11 |
| EGI | $425.7k | $56.77 |
| − OpEx | −$191.6k | −$25.54 |
| NOI | $234.2k | $31.22 |
7,500 SF · lease $59.88/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.35M
$2.93M – $3.90M
NOI $234,161 @ 7.0% cap · market cap 4.26%
Second Best
Retail
$2.16M
$1.89M – $2.52M
NOI $151,200 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$5.33M
$4.67M – $6.22M
NOI $373,278 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Style Cleaner & Laundry
(Bike/Boat/Book/etc) Store
TAB Grocery Inc. ...
Grocery & Convenience Store
Equity Bell
Computer & Electronic Repair
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FAQs
What type of property is this?
Residential income property - Fully occupied mixed-use walk-up on a 25-foot by 75-foot lot with Second Avenue frontage in C2-8 zoning.
Where is this residential income property located?
The property is located at 1737 2nd Ave New York, NY.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Fully occupied mixed‑use walk‑up building on a 25' x 75' lot in C2‑8 zoning; 25 feet of frontage on Second Avenue; Approximately 11,250 SF of unused development rights (air rights)
