517 Second Avenue, New York, NY 10016

For Sale$8,800,000

517 Second Avenue, New York, New York, 10016, New York, NY 10016

  • Unassigned

517 Second Avenue, New York, NY 10016, New York, NY 10016 - Unassigned Space

517 Second Avenue, New York, NY 10016 is located at 517 Second Avenue, New York, New York, 10016 in the Kips Bay neighborhood, NY, New York, 10016. The Class S1 Unassigned building was completed in 1910 and features a total of 6,259 Sqft.

There are 41 unassigned spaces for lease in the Kips Bay neighborhood, totaling 148,202 Sqft of available unassigned space. The unassigned space availability for the 10016 zip code is 3,336,308 Sqft, in 481 unassigned spaces.

In 1910, the same year 517 Second Avenue, New York, NY 10016 was built, 544 more commercial properties (office, industrial, retail) over 50,000 square feet were built in New York, featuring 8,746,537 square feet of commercial space.

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Details

  • Price $8,800,000
  • City New York
  • Neighborhood Kips Bay
  • Zip Code 10016
  • Market Manhattan
  • Property Type Unassigned
  • Property Size 6,259 Sqft
  • Lot Size 0.05 Acre
  • Building Class S1
  • Year Built 1910
  • Date Updated 27 Feb, 2021

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.com.

Description

A 24.69’ wide, 4-story, mixed-use building, located on the west side of Second Avenue between 28th and 29th Streets. This full free market property consists of a 2,186 sq. ft. retail store on the ground floor plus three (3) floor-through, three-bedroom / two-bathroom apartments above.

The retail tenant is an Italian restaurant with a lease expiring May 31, 2020 and is approximately 55% below market. Each apartment rents for approximately 15%-20% below market. The second floor unit benefits from having a private 1,000(+/-) square foot terrace.

With the retail lease expiring in May and the apartments either vacant or expiring within a year, 517 Second Avenue is an ideal building for a retail/restaurant user or for someone looking for a place to live/invest. Additionally, the approximately 10,180 square feet of unused air rights and location just off the corner make it a desirable parcel to any future development or assemblage.

FREQUENTLY ASKED QUESTIONS

What is the total square footage of 517 Second Avenue, New York, NY 10016?

517 Second Avenue, New York, NY 10016 totals 6,259 square feet.

When was this property built?

517 Second Avenue, New York, NY 10016 was built in 1910.

Kips Bay Demographics

The average household income in zip code 10016 is $179,160, from a total of 29,200 households. In terms of employment, there are 97.45 % white-collar and 2.55 % blue-collar jobs in zip code 10016.

Population

  • Total Population30,166
  • Male Population(49.4 %) 14,890
  • Female Population(50.6 %) 15,276
  • Median Age34.00

Income/Financial

  • Average Household Income$191,657
  • Median Household Income$129,808
  • Median Income Under 25$111,734
  • Median Income 25-44$159,430
  • Median Income 45-64$137,797
  • Median Income Over 65$58,503

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