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949 2nd Ave
New York, NY 10022
Multifamily Property For Sale
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4 Units
Investment Highlights
- Two free market residential units are delivered vacant.
- Unused development rights offer future flexibility.
- The submarket continues to command some of the highest rents in the country.
- Retail tenancy in place through 2028 offers stable cash flow.
- Ownership has completed a series of upgrades to building systems over time.
- Supply constraints remain a defining characteristic of the submarket.
Executive Summary
Meridian Investment Sales is pleased to present the exclusive offering of 949 Second Avenue, once the fabled home of Ford Modeling Agency, a mixed-use multifamily and retail asset located in the heart of Manhattan's Midtown East submarket. The property consists of a four-story building featuring two free market residential units and one ground-floor retail space, offering investors a compelling value-add opportunity with in-place income.
Property Facts
| Price Per Unit | $1,549,800 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.08% | Lot Size | 0.03 AC |
| No. Units | 4 | Building Size | 5,480 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | C1-9 - Commercial district predominantly residential in character | ||
| Price Per Unit | $1,549,800 CAD |
| Sale Type | Investment |
| Cap Rate | 3.08% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 5,480 SF |
| No. Stories | 4 |
| Year Built | 1910 |
| Zoning | C1-9 - Commercial district predominantly residential in character |
Amenities
Site Amenities
- Security System
- On-Site Retail
- Vintage Building
- Cafe
Property Taxes
| Parcel Number | 1324-0124 | Improvements Assessment | $1,008,750 CAD |
| Land Assessment | $377,394 CAD | Total Assessment | $1,386,144 CAD |
Property Taxes
Parcel Number
1324-0124
Land Assessment
$377,394 CAD
Improvements Assessment
$1,008,750 CAD
Total Assessment
$1,386,144 CAD
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