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1489 2nd Ave - 255 East 77 1,650 SF Retail Condo Unit in New York, NY 10075
Investment Highlights
- The condominium is fully leased under a new 10-year lease.
- The property is located within Manhattan's Upper East Side.
- Excellent visibility benefits from a prominent avenue location.
- Immediate cash flow is provided by an established retail tenant.
- Strong neighborhood demographics support long-term retail demand.
- Limited retail condominium supply supports investment appeal.
Executive Summary
1489 Second Avenue is a mixed-use building situated within Manhattan's Upper East Side, one of New York City's most established residential and retail neighborhoods. The property benefits from excellent visibility along a well-trafficked avenue surrounded by affluent residential communities, neighborhood services, restaurants, and national retailers. The location provides convenient access to public transportation and serves a dense population that supports consistent commercial activity throughout the year. The building's position within a mature retail corridor contributes to strong consumer engagement and sustained demand from retailers seeking exposure to the neighborhood's affluent demographic profile. Nearby residential development, local amenities, and daily foot traffic support long-term commercial viability. The property's placement within a stable, high-barrier-to-entry market enhances its appeal and reinforces its standing as a quality retail asset within one of Manhattan's most recognizable neighborhoods.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment |
| Sale Type | Investment |
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1 | 1,650 SF | Retail | Upon Request | - |
Unit 1
| Unit Size |
| 1,650 SF |
| Condo Use |
| Retail |
| Price |
| Upon Request |
| NOI |
| - |
Unit 1
| Unit Size | 1,650 SF |
| Condo Use | Retail |
| Price | Upon Request |
| NOI | - |
| Sale Type | Investment |
| Description | |
| Fully leased retail condominium totaling approximately 1,650 SF. New 10-year lease in place with Salt & Straw, providing immediate and stable long-term income.</li></ul> | |
| Sale Notes | |
| Retail condominium investment opportunity consisting of approximately 1,650 rentable square feet fully leased to Salt & Straw under a newly executed 10-year lease. The asset provides immediate cash flow from an established and expanding retail brand while minimizing leasing and rollover risk through long-term occupancy. Located in a highly active Manhattan retail market, the condominium benefits from strong visibility, consistent pedestrian traffic, and a surrounding customer base of residents, employees, and visitors. The long-term lease structure offers predictable income generation and positions the property as a passive investment opportunity. Retail condominium offerings with newly executed leases are limited in supply, making this a compelling acquisition opportunity for investors seeking stable returns in an irreplaceable urban location. The property combines durable tenancy with desirable market fundamentals, creating an attractive long-term hold opportunity.</li></ul> |
Property Facts
| Total Building Size | 170,481 SF | Floors | 36 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 4,736 SF |
| Property Subtype | Apartment | Year Built | 2026 |
| Building Class | A | Lot Size | 0.27 AC |
| Zoning | C1-9 - Commercial district predominantly residential in character | ||
| Total Building Size | 170,481 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | A |
| Floors | 36 |
| Typical Floor Size | 4,736 SF |
| Year Built | 2026 |
| Lot Size | 0.27 AC |
| Zoning | C1-9 - Commercial district predominantly residential in character |
Amenities
Site Amenities
- 24 Hour Access
- Controlled Access
- Fitness Center
- Pool
- Sauna
- Spa
- Tenant Controlled HVAC
- Gameroom
- Media Center/Movie Theatre
- Walking/Biking Trails
- Roof Terrace
- Elevator
- Lounge
- Multi Use Room
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 6 | - | 1,475 - 1,540 |
| 3+3.5 | 13 | - | 2,030 - 2,540 |
| 4+4.5 | 27 | - | 2,403 - 2,954 |
| 5+5.5 | 14 | - | 2,835 - 5,220 |
| 6+6.5 | 1 | - | 5,472 |
| 7+6.5 | 1 | - | 5,516 |
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1489 2nd Ave - 255 East 77
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