Renovated Floor-Through Office
For Sale
$4,880,000
866 2nd Avenue 10a New York, Manhattan, NY 10017
Owner-user office condominium with open planning, natural light, and direct elevator access near Grand Central Station.
Property Size6,450 SF
Price / SF$756.59
Days on Market59
Property Features for 866 2nd Avenue 10a New York
General Information
Standard status
Active
Size
6,450 SF
Elevators
Yes
Additional Details
Public Transit
Yes
Building Details
Year Built
1970
Listing Agency:
B Square Realty
Listed By:
Li Li
(646) 889-9988
Source:
Amodiorealestate
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 7 at 3:34PM
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 B Square Realty
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Investment Insights
Based on property information with market context.
Renovated office condominium occupying an approximately 6,450-square-foot floor-through layout in a 1970 building. The space is configured with an open plan, large windows, and direct elevator access, providing a flexible setting for professional office use.
The property is located at 866 2nd Avenue in Midtown East, approximately two blocks from Grand Central Station. The building is near major transportation hubs, the United Nations, several consulates, and a spacious park. Its Manhattan location and office-focused configuration support owner-users seeking a centrally positioned workplace.
The property is located at 866 2nd Avenue in Midtown East, approximately two blocks from Grand Central Station. The building is near major transportation hubs, the United Nations, several consulates, and a spacious park. Its Manhattan location and office-focused configuration support owner-users seeking a centrally positioned workplace.
Key Highlights
- Approximately 6,450 square feet of office space
- Floor‑through condominium with open layout
- Newly renovated interior with large windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$201,967
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,039,340
$4.0M
Cap Rate 7%
$2,885,243
$2.9M
Cap Rate 9%
$2,244,078
$2.2M
Market Conditions
NOI Build-Up for 6,450 SF
Gross rent
$332.0K $51.48/SF
− Vacancy
−$62.8K −$9.73/SF
EGI
$269.3K $41.75/SF
− OpEx
−$67.3K −$10.44/SF
NOI
$202.0K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,039,340
Cap Rate 7%
$2,885,243
Cap Rate 9%
$2,244,078
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
23,343
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Owner-user office condominium with open planning, natural light, and direct elevator access near Grand Central Station.
Where is this office unit located?
The property is located at 866 2nd Avenue 10a New York Manhattan, 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: Approximately 6,450 square feet of office space; Floor‑through condominium with open layout; Newly renovated interior with large windows
