Per your request to evaluate the latest tenanccy from a business perspective, I can offer some opinions which are not necessarily the opinions of other Board members. I've been in business for 38 years in Manhattan, had real estate investments in Manhattan and elsewhere, and have known Manhattan for almost all my life. I don't know much but I do know enough to offer my opinions with no guarantee.

The commercial unit was originally designed into the building for the sole purpose of providing retail frontage to satisfy zoning requirements. It was designed to meet the minimum requirements. Since the building was to comprise luxury condominiums with a minimum pricetag of one million dollars, the ground floor and basement were almost entirely devoted to residential service and use. 

Throughout the city, ground floor retail units are the first thing that people see when they approach a building from street level. Depending on the size of the building, the character of the building can be strongly influenced by the character of the retail component. 

Therefore, the designers of the building were faced with the problem of how to induce people to buy millions of dollars worth of real estate and make them feel comfortable that the commercial component would not have a negative impact on the luxury residential component which was the prime target of their marketing. 

They did this by making it small and building some controls into the condominium documents. These factors combined with the lack of commercial parking in front make this a difficult business proposition.

This is the background of the commercial unit of the building of which you own a small piece. Residents have spent millions of dollars on a real estate investment which could potentially be negatively impacted by an unappealing frontage owned by a small minority investor. 

This commercial unit is also profoundly different than any almost any other that you might see in New York City or elsewhere. Since it is a condominium and not a landlord owned building, the Board of the condominium has a voice in the management of the building rather than a private owner. The business of private owner landlords is the profitability and value of the building. The business of the Condominium Board is the management of the building for the benefit of all.  The Board does not own the commercial unit and does not share in its profits or losses. The Board has no obligation to insure the profitability of the commercial unit. 

Frankly, I do not understand why anyone would purchase the commercial unit as a potential business. I believe it is a sound investment based on its value but has very little potential to generate income.

You are not the user of the property. You are potentialy a landlord who's focus is return on investment.  A quick calculation of your asking of $3600 monthly rent shows that if you get that rent, your cap rate would be in the neighborhood of ten percent. I do not believe that ten percent cap rate is realistic. Citywide, cap rates are at 2-3%. A more realistic asking rent would be around $1500 to $2000 per month.  If you asked that rent, you'd get a lot more action. At $3,600, somehow you have to stretch the offering to include things that do not come with the commercial unit such as sidewalk use, big signage, hallway use, etc.

This is not to say that someone could not make an income from the commercial unit. But there are already a dozen or more places to buy a sandwhich in the neighborhood. There are great sandwich places, okay sandwich places and cheap sandwich places. The market for sandwiches is saturated.

If you are dead set on getting that rent, my business advise would be to take advantage of the luxury character of the building and find a tenant who sells high end luxury products or provides high end service at street level. 

It occurs to me that we all might benefit from a sit down brainstorming-networking session with unit owners or board members where you might get good suggestions or make good contacts.