Long-Term Owner Retiring | Family-Run | Built-Out Medical | FOR SALE

Description:

1976 SECOND AVENUE, NYC - The Lala Realty Group and RM Friedland are pleased to present this five-story, mixed use walk-up property located on the east side of Second Avenue, just north of East 101st Street near the Upper East Side and East Harlem border. This asset comprises 18 units, including 16 apartments and 2 commercial spaces, with a total area of 9,700 square feet.

The residential units feature efficient layouts catering to high rental demand. The two vacant commercial spaces, recently occupied by a long-standing urgent care facility, include a storefront and a fully built-out lower-level office with a bathroom, independent HVAC system, and backyard access. This offers an excellent opportunity for a medical owner/user or seamless leasing for medical or professional use.

Notably, this is the first time in over 28 years that the commercial units have been vacant, reflecting nearly three decades of consistent rental income. The property also includes income from a rooftop cell site (AT&T).

This brick building is well-maintained with cameras throughout, a steel-and-glass entrance, and a video intercom system. Exposed brick walls and marble flooring adorn the lobby, leading to pristine hallways with wood floors and matching brickwork.

The property is heated with a gas Weil-McLain boiler and has three A.O. Smith hot water tanks (one for commercial spaces), plus a separate boiler for the commercial units. The basement includes the boiler room, gas, water, and electric meters, and a sprinkler system for the commercial spaces. The roof is a silver-coated rubber membrane.

Located near the East 96th Street Second Avenue Subway station, with Q train access to Midtown and the Upper East Side, the property offers excellent transportation. East 96th Street serves as a shopping hub with dining and retail options. Nearby amenities include Mount Sinai Hospital, Thomas Jefferson Park, and the East River Plaza Mall featuring major retailers like Costco and Target.

This rare opportunity is offered for sale due to the owner’s retirement after decades of family ownership. The property’s prime location, meticulous maintenance, and history of consistent commercial and residential income ensure enduring value for its future owner.

Documents: