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    924 3Rd Ave New York, NY 10022

    For Sale
    $6,250,000

    Prime NYC Retail Space, 8,325 SF, $6.25M

    Property size:
    8,325 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional retail property, located at 924 3rd Avenue in New York City's vibrant Midtown East neighborhood (zip code 10022), presents a compelling investment opportunity. The building boasts 8,325 square feet of space spread across five stories, and is zoned C6-6. Currently, the ground floor is occupied by Ea Dumpling, a thriving tenant. The property's strategic location places it just one block from the iconic Citicorp Building, ensuring high visibility and foot traffic. Midtown East offers unparalleled access to cultural attractions, including museums, libraries, and a diverse culinary scene, complemented by convenient access to multiple subway lines. This prime location makes it an ideal space for a variety of retail businesses. A significant advantage is the substantial untapped potential: based on a 15.0 FAR, the property possesses unused air rights totaling 27,300 square feet, offering considerable future development possibilities. The asking price for this remarkable property is $6,250,000. This presents a rare chance to acquire a well-situated, income-generating retail asset with significant upside potential in one of Manhattan's most desirable locations.

    Property Features for 924 3Rd Ave

    General Information

    Property type
    Retail properties
    Square Feet
    8,325 SF

    Building Details

    Stories
    5

    HighLights

    • Midtown East location, one block from Citicorp Building.
    • Ground floor retail space occupied by Ea Dumpling.
    • 27,300 square feet of unused air rights (based on a 15.0 FAR).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    EA Dumpling Dumpling Restaurant

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Nail Salon Dental Office Food Market Clothing Store Law Firm Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9684296
    Latitude
    40.7594591

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    FAQs

    What type of property is this?
    Retail property - Prime NYC Retail Space, 8,325 SF, $6.25M
    Where is this retail property located?
    The property is located at 924 3Rd Ave New York, NY.
    What is the asking price?
    The asking price for this property is $6,250,000.
    What are key features of this property?
    This property features: Midtown East location, one block from Citicorp Building.; Ground floor retail space occupied by Ea Dumpling.; 27,300 square feet of unused air rights (based on a 15.0 FAR).
    Request Owner's contact information
    924 3Rd Ave New York, NY 10022
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    New York, NY 10022
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    924 3Rd Ave New York, NY 10022
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