Midtown East Office
For Sale
$4,880,000
866 2nd Ave 10A, New York, NY 10017
Renovated office condo near Grand Central, ideal for professionals.
Property Size6,450 SF
Price / SF$756.59
Days on Market100
Property Features for 866 2nd Ave 10A
General Information
Standard status
Active
Size
6,450 SF
Property subtype
Commercial
Building Details
Year Built
1970
Listing Agency:
(646) 889-9988
Listed By:
Li Li
(646) 889-9988
Source:
Elliman
Added: Apr 24
Changed: Jul 6
Last Checked: Jul 31 at 8:14AM
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 Li Li
Investment Insights
Based on property information with market context.
This newly renovated, floor-through office condominium is located in Midtown East, offering a prime location two blocks from Grand Central Station. The unit spans approximately 6,450 square feet and features an open layout. Large windows provide ample natural light, creating an efficient and inviting work environment. Direct elevator access is available. The building's location offers proximity to major transportation hubs, the United Nations, and several consulates. This space is suitable for professional offices seeking a prestigious presence in the city's heart. A spacious park is located nearby. The location has a bike score of 80, indicating it is very bikeable, a walk score of 98, indicating it is a walker's paradise, and a transit score of 100, indicating it is a rider's paradise.
Key Highlights
- Prime Midtown East location, just two blocks from Grand Central Station
- Direct elevator access to a spacious 6,450 sq ft floor‑through office condominium
- Newly renovated with an open layout and abundant natural light
Financial Insights For Office B
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 | $332.0k | $51.48 |
| − Vacancy | −$62.8k | −$9.73 |
| EGI | $269.3k | $41.75 |
| − OpEx | −$67.3k | −$10.44 |
| NOI | $202.0k | $31.31 |
6,450 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
58,096
Businesses Nearby
Explore this area
Business Placement
Demographics for 10017, NY
17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Renovated office condo near Grand Central, ideal for professionals.
Where is this office units located?
The property is located at 866 2nd Ave 10A 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: Prime Midtown East location, just two blocks from Grand Central Station; Direct elevator access to a spacious 6,450 sq ft floor‑through office condominium; Newly renovated with an open layout and abundant natural light
