For Sale
$8,000,000

75 2 PlNew York, NY 10004

Prime Lower Manhattan Parking Asset

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a substantial 35,352-square-foot parking garage located in Battery Park City, Lower Manhattan, New York City. Priced at $8,000,000 ($226.30/sq ft), this property boasts 100 permitted parking spaces, currently leased and generating significant annual income of $636,540. The existing lease agreement is cancellable by a new owner, offering flexibility for future operations. The garage enjoys a high occupancy rate, with approximately 90-95 monthly parkers and 20-30 daily parkers, reflecting the strong demand for parking in this supply-constrained neighborhood. This represents one of the largest garages in the area, making it a rare and valuable asset in a location with limited off-street and on-street parking options. The property is situated at 75 2nd Pl, New York, NY 10004. This is a unique chance to acquire a high-performing, income-producing asset in a prime Lower Manhattan location. The property's size and location make it an ideal investment for those seeking exposure to the lucrative New York City real estate market. The current lease provides immediate cash flow, while the cancellable clause allows for future operational adjustments to maximize profitability.

Highlights

  • $8,000,000 asking price for a 35,352 square foot special purpose property.
  • High-demand parking garage in a supply-constrained market.
  • One of the largest garages in the neighborhood, addressing significant parking scarcity.
  • 100 permitted parking spaces.
  • Generating strong annual lease income of $636,540 with approximately 90-95 monthly and 20-30 daily parkers; lease is cancellable.

Property Details for 75 2 Pl

Property type
Specialty properties, Parking lots & garages
Square Feet
35,352 SF

Location Insight

City
New York
County
New York
State
New York
Latitude
40.706570826211
Longitude
-74.016961009308
75 2 Pl, New York, New York

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75 2 Pl
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