JLL has been retained on an exclusive basis to arrange the sale of 227 East 59th Street, (the “Property”) a 6 story, 25,400 GSF, 27-unit, elevator apartment building located on the north side of East 59th Street between 2nd & 3rd Avenues. The Property was converted to residential use in the early 1980’s pursuant to a J-51 abatement which expired in 1993. All 25 apartments are Free Market which offers purchasers the opportunity benefit from continued rent growth with zero deregulation risk. Future ownership may look to add additional tenant amenities to the underutilized basement space, such as tenant storage lockers, a gym or common room. The building has been well-maintained by current ownership having spent ~$2.5M to renovate all apartments, update the lobby, common areas, elevator, and roof. All 25 apartments have been renovated to include Blomberg stainless steel appliances, hardwood floors, individual cooling units, and virtual doorman access. Tenants have access to a common outdoor space on the second floor. In regard to infrastructure the building is heated by a gas fired boiler, and all units are individually metered for electric. Of the 25 residential units, 10 are studios and 15 are two-bedrooms, an ideal unit mix for the location to capture the young professional demographic. Young professionals are drawn to this location due to its proximity to large scale employers such as Bloomberg LP, JPMorgan Chase, Bloomingdale’s Flagship, Lenox Hill Hospital & Weill Cornell Medical Center and access to 4 5 6 N R W trains providing connectivity to the rest of Manhattan and the other boroughs & Central Park. The retail space is leased to Carlos De La Puente Antiques through October of ‘29 and Manhattan Cabinetry though April ‘33. The retail tenants are responsible for their own utilities as well as R.E tax recoveries. East 59th Street between 2nd & 3rd Avenue is known as Manhattan’s Decorative Arts District (often referred to as the design district) due to its proximity to the Decoration & Design Building on 3rd Avenue. The block has historically served as a high-concentration hub for premium home decor, interior design showrooms, and architectural resources. Neighboring retailers include Ben Soleimani, Janus et Cie, The Shade Store, The Chilewich Store and de Gournay. This pocket of East 59th Street will continue to see demand from home furnishing retailers seeking a presence withing the design district and neighboring retail agglomeration.\ 227 East 59th Street represents unique opportunity to acquire a 100% Free Market elevator building, in a world location with zero due diligence risk, established retail tenants and proximity to major employers. The property will continue to benefit from the rapid growth of downtown markets and offers tenants the ability to walk to work or enjoy a seamless commute via the 4 5 6 N R W trains. The property will be sold on an as-is, where-is basis.