Description

Solid income producing property with upside.
5 Story Walk Up building - Built in 1915 + Ground floor located on a quiet tree-lined street on East 90th Street (between First and Second Avenues) in the Upper East Side, one of Manhattan's most mature and stable rental markets.
The property, which seats on a 25 x 100 foot lot is currently configured as:
GROSS SQFT: 9,813 - 25 FEET BY 70 FEET DEEP
LOT: 25 X 100.67 FT (BLOCKL 01553-0014)
Above grade: 8605 Sqft
Ground Floor: 1313 Sqft
Available Air Rights: 1460 Sqft
Rear yard: 750 Sqft
The property features 12 Residential Units - 92% of Units are Free Market (one unit is RS):
- 2 Studios
- 2 x duplex 2 Bedroom with private access to the rear yard
- 8 x 2 Bedrooms
Note:
Ability to Duplex Up Top Floor Apartments
Ground Floor Unit with Garden Access is Significantly Below Market
The 2 duplex units could be converted in 4 studios (Projected: 14 Units)
The roof of the building was completely remade in 2017 and it is guaranteed for 10 years by the construction company. A NEW boiler has just been installed and it is insured.
323 East 90th Street presents an investor the chance to acquire a strategically located and well- maintained multifamily building with significant in-place cash flow and remaining upside thanks to the strong post-Covid rental rebound and the possibility of further value-add development options.(Projected Rent Roll: $465,000)
The property is conveniently located in close proximity of 2nd Avenue - Q Line 86th Street and 4/5/6 subways stations on Lexington Ave. Within distance to Carl Schurz, Ruppert, Whole Food and Central Park.
The Super leaves off site.
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Building Features 5 Floors12 Units

intercom
courtyard
laundry

Unit Features

Pet Policy: BuildingNo,Yes

$7,695,000 / $784 per ft²

$555,000  -  85 days ago

Listed on Sep 01, 2020

678 Days on Market

10 Beds / 10.0 Baths / 9,813 ft²

Total Monthly expenses: $10,029

Maintenance: - / R.E. Taxes $10,029

Other Details:

-

Lot Size: 25.0' x 100.67' Built: 25.0' x 70.0'

Zoning: -

Exclusively listed with: Domus Realty Source: RLS

Giampiero
Rispo

giampiero@domusny.com

(212) 755-7272 x

Veronique
Lerebours

veronique@domusny.com

(917) 751-4077

Listing Courtesy of Domus Realty View Listing

Unit listing history

Date Status Amount Listed by Owner Name
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