395-397 2nd Ave New York, NY 10010
Property Lookup
Property profile & analytics
395-397 2nd Ave New York, NY 10010
- Retail residential properties
- 14,080 SF
- 0.07 lot acres
Property ID
US63-3977965
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Retail residential properties
Property Details for 395-397 2nd Ave
- Year built
- 1915
- Lot size
- 0.07 lot acres
- Property size
- 14,080 SF
- Zone code
- C19A
- Property type
- Retail residential properties
- APN
- 00903-0035
- APU
- 9030035
Description
This exceptional Class A multifamily investment opportunity presents a rare chance to acquire a stabilized, 15-unit apartment building located at 395-397 2nd Avenue in the coveted Gramercy Park neighborhood of New York City (zip code 10010). The property, built in 1910, boasts a total of 15,000 square feet of net rentable space, spread across 12 apartments and three retail units. Currently operating at 100% occupancy, the building generates a substantial net operating income (NOI) of $675,000, resulting in a 2.50% capitalization rate. The asking price is $27,000,000, translating to $1,800,000 per unit and $10,800 per square foot. The building sits on a prime corner lot at the intersection of 2nd Avenue and East 23rd Street (Block 903, Lot 35), with the Orion Diner occupying one corner retail space, a hair salon in another, and a news deli in the third. The property is zoned C1-91, offering significant potential for future development, with 17,333 square feet of unused air rights. The gross income is $930,000 (a rent roll is available upon request). This is a truly remarkable opportunity to own a high-performing asset in one of Manhattan's most desirable locations.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9813
- Latitude
- 40.7378
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$220,547
$129,150
$1,634,945
$1,764,095
-
$287,000
$3,853,000
$4,140,000
