Mixed-Use Loft
223 E 2nd Street New York, NY 10009
223 E 2nd Street, New York, NY, 10009
$7,000,000
For Sale
$7,000,000
COMMERCIAL - Other - New York, NY
Property Size15,185 SF
Lot Size0.05 Acres
Price / SF$460.98
Days on Market41
Property Features for 223 E 2nd Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bedrooms
- 14
- Bathrooms
- 7
- Rooms
- Bathroom 3, Bedroom 13, Bedroom 3, Bathroom 7, Bedroom 8, Bedroom 5, Bedroom 2, Bathroom 5, Bedroom 9, Bedroom 14, Bedroom 10, Bathroom 6, Bathroom 4, Bathroom 2, Bedroom 6, Bedroom 4, Bathroom 1, Bedroom 12, Bedroom 11, Bedroom 1, Bedroom 7
- Standard status
- Active
- Lot size
- 0.05 Acres
Building Details
- Architectural style
- Other
Listing Agency
Compass
(646) 982-0353
3rd floor 90 Fifth Avenue, 3rd Floor, New York, NY
Listed by
Esteban Gomez
Added: Jun 9 Checked: Jul 19 at 3:06 pm
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.
Built in 1900, this seven-story masonry walk-up offers six open loft units and street-level commercial space. The property includes an existing elevator shaft infrastructure for future installation, an unobstructed flat rooftop, and an original wrought iron balustrade staircase. The building features a brick facade with ornate terracotta detailing, arched windows, and decorative cornice and carved stonework.
Residential totals 13,260 square feet across the six units, while commercial totals 1,925 square feet at street level. There is a full basement and notable ceiling heights by floor, including a private terrace on the second floor and penthouse configuration on the seventh floor.
The building is designated as Building Class C4 Old Law Tenement with Tax Class 2B, under zoning listed as Conv Ind/Com Residential. The property is registered as an IMD, with one unit covered and a coverage application filed. Two tenants currently occupy two floors, and the building will be delivered vacant except for Units #3 and #4.
Residential totals 13,260 square feet across the six units, while commercial totals 1,925 square feet at street level. There is a full basement and notable ceiling heights by floor, including a private terrace on the second floor and penthouse configuration on the seventh floor.
The building is designated as Building Class C4 Old Law Tenement with Tax Class 2B, under zoning listed as Conv Ind/Com Residential. The property is registered as an IMD, with one unit covered and a coverage application filed. Two tenants currently occupy two floors, and the building will be delivered vacant except for Units #3 and #4.
Key Highlights
- 223 East 2nd Street: 7‑story masonry walk‑up built in 1900 with ornate terracotta detailing and arched window facade
- Mixed‑use building with 6 open loft units totaling 13,260 SF residential, plus 1,925 SF of street‑level commercial space
- Full basement; composition totals 15,185 SF gross floor area and includes a flat rooftop described as unobstructed with open Manhattan skyline views
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
AS Garage's Door's
Hardware & Home Improvement
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FAQs
What type of property is this?
Apartment building - Seven-story masonry walk-up with six loft units, street-level commercial space, and an elevator shaft infrastructure in place.
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: 223 East 2nd Street: 7‑story masonry walk‑up built in 1900 with ornate terracotta detailing and arched window facade; Mixed‑use building with 6 open loft units totaling 13,260 SF residential, plus 1,925 SF of street‑level commercial space; Full basement; composition totals 15,185 SF gross floor area and includes a flat rooftop described as unobstructed with open Manhattan skyline views
