The subject property is located on the east side of Second Avenue between 85th
and 86th Streets in the newly designed GEORGICA luxury condominium building. The
vacant retail condominium currently consists of 16’ high ceilings and
approximately 3,600 square feet on the ground floor, as well as an additional
600 square feet in the basement. The retail condominium will also benefit from a
10 year 421-A tax abatement. The average taxes over this 10 year period will be
approximately $27,000 a year. Slated for completion in August 2009, the GEORGICA
is a twenty (20) story, fifty-eight (58) unit luxury condo building. Given the
offering’s ideal location and size, the retail condo at 1646 Second Avenue
presents itself as an opportunity for both users and investors alike.
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Neighborhoods: Yorkville