On May 18, MYC & Associates will present a rare opportunity to bid on 316 2nd Avenue, a 10-unit residential brownstone in the Gramercy Park neighborhood of Manhattan. This prime redevelopment opportunity will reward the winning bid with a 2,167-square-foot lot.
The units included are five two-bedrooms, four one-bedrooms, and a two-bedroom duplex; two of the units are vacant, and most are on a month-by-month basis. There is an allowable floor area of 16,296 square feet.
This auction provides entree to a rare value-add opportunity in an in-demand location. It is just north of Stuyvesant Park and near the Beth Israel hospital complex, with the NYPD’s 13th precinct just around the corner.
This is an unusual chance to gain access to one of the world’s most competitive real estate markets with a property zoned R9A.
The bid deadline for 316 2nd Avenue is Friday, May 12 and only those who submit a qualified bid by that date will be able to participate.
The auction will take place at 11 a.m. on Thursday, May 18 at the United States Bankruptcy Court, Southern District of New York, One Bowling Green in Manhattan. GMAP