Corner Mixed-Use Development
2256 3rd Avenue New York City, NY 10035
2256 3rd Avenue, New York City, NY, 10035
Contact for pricing
For Sale
Contact for pricing
Corner mixed-use portfolio offering a defined buildable development footprint.
Property Size25,200 SF
Price / SF$367.06
Days on Market20
Property Features for 2256 3rd Avenue
General Information
- Standard status
- Active
- Size
- 25,200 SF
- Property subtype
- Mixed Use
Listing agency
Ariel Property Advisors
(212) 544-9500
Listed by
Victor Sozio · License #NY 10301211469
Source
Crexi
Added: Jul 3 Updated: Jul 22 at 1:26AM Checked: Jul 22 at 1:26AM
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 Ariel Property Advisors
Investment Insights
Based on property information with market context.
Corner mixed-use portfolio presented for sale with long-term development potential. The offering is described as having approximately 76,000 buildable square feet.
The property is located at 2256–2260 3rd Avenue in East Harlem, Northern Manhattan.
The property is located at 2256–2260 3rd Avenue in East Harlem, Northern Manhattan.
Key Highlights
- Corner mixed‑use portfolio located at 2256–2260 3rd Avenue in East Harlem, Northern Manhattan
- 76,000 buildable square feet development footprint
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 | $1.51M | $60.00 |
| − Vacancy | −$226.8k | −$9.00 |
| EGI | $1.29M | $51.00 |
| − OpEx | −$482.0k | −$19.13 |
| NOI | $803.3k | $31.88 |
25,200 SF · lease $60.00/SF/yr · vacancy 15.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$50.66M
$44.33M – $59.10M
NOI $3,546,258 @ 7.0% cap · market cap 38.34%
Second Best
Mixed Use
$11.47M
$10.04M – $13.39M
NOI $803,250 @ 7.0% cap · market cap 8.68%
Theoretical Best
Specialty Retail
$62.73M
$54.89M – $73.18M
NOI $4,390,848 @ 7.0% cap · market cap 47.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Supernerd
Media Distribution
NYC Wines & Liquors
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Corner mixed-use portfolio offering a defined buildable development footprint.
Where is this mixed-use property located?
The property is located at 2256 3rd Avenue New York City, NY.
What is the asking price?
The asking price for this property is $9,250,000.
What are key features of this property?
This property features: Corner mixed‑use portfolio located at 2256–2260 3rd Avenue in East Harlem, Northern Manhattan; 76,000 buildable square feet development footprint
