East Village Mixed-Use
48 1/2 East 7th Street, New York, NY 10016
Five-unit mixed-use property in the East Village.
Type:Multifamily, Retail
Property size:
5,303 SFLot size:
0.07 AcresPrice / SF:
$2,121/SF- Added:
- May 14, 2026
- Days on Market:
- 13
- Last Refresh:
- May 16 at 8:46 pm
Property Features for 48 1/2 East 7th Street
General Information
- Standard status
- Active
- Size
- 5,303 SF
- Lot size
- 0.07 Acres
- Property subtype
- Multifamily, Retail
Building Details
- Year Built
- 1920
Listing agent Joe Koicim License #NY 10301208718
Listing office Marcus & Millichap - NYM Group
Listing date May 14, 2026
Source Crexi
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 Marcus & Millichap - NYM Group
HighLights
- Prime East Village location at the corner of 2nd Avenue and East 7th Street.
- Mixed‑use property with 5 units.
- Significant development potential with 10,605 square feet of additional air rights.
- Favorable zoning: R7A, R8B, and C2‑5.
- Large lot size: 26' x 125'.
- Building size: 40.8' x 26'.
Overview
Located in the East Village, this mixed-use property at 48 1/2 East 7th Street & 48 East 7th Street features five units. The building is situated on the southeast corner of 2nd Avenue and East 7th Street. The property encompasses approximately 5,303 square feet and is built to dimensions of 40.8 feet by 26 feet on a 26-foot by 125-foot lot (Block: 448 Lot: 7). Zoned R7A, R8B, and C2-5, the property includes a vacant corner lot with the potential for development, offering 10,605 square feet of additional air rights.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$8.29M
NOI $746,262 @ 9.00% cap · cautious / downside scenario
Moderate
$10.66M
NOI $746,262 @ 7.00% cap · market / base-case scenario
Aggressive
$14.93M
NOI $746,262 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.25M | $235.68 |
| − Vacancy | −$183.7k | −$34.64 |
| EGI | $1.07M | $201.04 |
| − OpEx | −$319.8k | −$60.31 |
| NOI | $746.3k | $140.72 |
5,303 SF · lease $235.68/SF/yr · vacancy 14.70% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$10.66M
$9.33M – $12.44M
NOI $746,262 @ 7.0% cap · market cap 6.63%
Second Best
Mixed Use
$2.41M
$2.11M – $2.82M
NOI $169,033 @ 7.0% cap · market cap 1.50%
Theoretical Best
Specialty Retail
$13.20M
$11.55M – $15.40M
NOI $923,995 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Mixed-use properties
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9876915
- Latitude
- 40.7276926
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Five-unit mixed-use property in the East Village.
Where is this mixed-use property located?
The property is located at 48 1/2 East 7th Street New York, NY.
What is the asking price?
The asking price for this property is $11,250,000.
What are key features of this property?
This property features: Prime East Village location at the corner of 2nd Avenue and East 7th Street.; Mixed‑use property with 5 units.; Significant development potential with **10,605 square feet of additional air rights**.
