221 E 60th St - Apartments FOR SALE


New York, NY 10022- Lenox Hill
$4,200,000 USD
201-874-5017
221 E 60th St, New York, NY for Sale
$4,200,000 USD
Apartments - FOR SALE
1/7
null | 6% Cap Rate

221 E 60th St
New York, NY 10022
Lenox Hill


HIGHLIGHTS

  • Cash-Flowing Asset with Upside Potential
  • Cash-Flowing Asset with Upside Potential
  • Irreplaceable Location with Great Light and Air
  • Access to Transit

OVERVIEW

Avison Young, as the exclusive agent, is pleased to offer for sale 221 East 60th Street (the “Property”), a 5-story multifamily walk-up building with 20 feet of frontage located on the north side of East 60th Street between Second and Third Avenues in the heart of Manhattan’s highly desirable Lenox Hill submarket. The Property spans approximately ±6,720 square feet and is comprised of one retail space on the ground floor and seven residential units above. The retail component of the property is currently occupied by Valley Design Center through December 2028. Of the residential units, three are free-market and four are rent-stabilized (RS). All of the rent stabilized units are studios, while the three FM units include one 1-bedroom, one 2-bedroom and one flex 5-bedroom with a patio. The Property is 100% occupied with upside potential in the FM rents.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$625 USD /SF

# OF UNITS

7

PRICE/UNIT

$600,000

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

R8B

APN/PARCEL ID

1415-0011

ASK ABOUT THIS PROPERTY

Eric KarmitzAvison YoungMore Info
201-874-5017

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Eric KarmitzAvison YoungMore Info
201-874-5017

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.