322 E 90th St - Apartments FOR SALE


New York, NY 10128- Yorkville
$7,700,000 USD
917-412-9996
322 E 90th St, New York, NY for Sale
$7,700,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

322 E 90th St
New York, NY 10128
Yorkville


OVERVIEW

JLL has been retained on an exclusive basis to arrange for the sale of 322 East 90th Street, a 25’ wide, 5-story walkup apartment building located on the south side of East 90th Street between 1st and 2nd Avenues. Comprised of approximately 9,005 gross square feet above grade, the property is configured as 16 total apartments. The welllocated property is only a 5-minute walk from the 86th Street subway station and a 10-minute walk from the 86th Street subway station, both of which offer quick and convenient access throughout Midtown and Downtown Manhattan. Of the 16 residential units 10 are Free Market (63%) and 6 are Rent Stabilized. The units are currently configured as two studios, three 1-bedrooms, nine 2-bedrooms and two 3-bedroom apartment. The ground floor contains 4 total apartments and Floors 2-5 contain 3 apartments each. The property’s Free Market units have all been recently renovated and feature both high-end finishes and in-unit washer/dryers. Due to its mostly Free Market status, high quality renovations and proximity to the trains, the property is set to capitalize on surging rental growth. The property also features high-end technology upgrades including Latch locking systems and a Butterfly virtual doorman. Nestled between both Carl Shurz Park to the east and Central Park to the west, 322 East 90th offers exceptional access to green space. The smaller Ruppert Park is also located just steps away across 2nd Avenue. Given the property’s access to outdoor spaces and superior condition relative to comparable product in the submarket, 322 East 90th Street represents an attractive living option for the neighborhood’s target rental demographic of young professionals. Additionally, the building is ideally situated just a short distance from the world-class retail corridors of 3rd, Lexington, Park and Madison Avenues. 322 East 90th Street will appeal to investors looking for an easy to maintain, mostly Free Market building with both short and long-term rental upside. The property represents an opportunity to own a recently renovated asset with access to outdoor space that is well serviced by public transportation. The property will be sold on an as-is where-is basis.

FOR SALE DETAILS

PRICE

$7,700,000 USD

PRICE/SF

$855 USD /SF

# OF UNITS

16

PRICE/UNIT

$481,250

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1915

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,500 SF

ZONING

R8B

APN/PARCEL ID

1552-0038

ASK ABOUT THIS PROPERTY

917-412-9996

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917-412-9996

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