75 2 PlNew York, NY 10004

Property Details for 75 2 Pl

Property size (Sq ft)

35,352 SF

Property type

Specialty properties

Property subtype

Parking lots & garages

Description

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.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7066

Longitude

-74.017

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