394 E 8th Street
394 East 8th Street, New York, NY, 10009, US
38 units
Description
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.
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Attributes
Number of units
27
Occupancy
100%
Year built
1930
Building area net
2,360 m²
Land area gross
0 m²
Media
Investment Highlights
- 100% Free Market Converted from commercial use in the 1980’s
- World Class location steps from Bloomingdales Flagship store & HQ
- Elevator building 25 apartments & 2 commercial spaces
- 83% of Assessed Value is allocated to improvements
- 10 studios & 15 two bedroom apartments ideal for the tenant demographic
- 74% of the income from residential & 26% from the retail
- Exempt from Local law 11
- Proximity to the 4 5 6 N R W trains
Contact brokers
227 East 59th Street (0 Properties)
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Last updated
May 29, 2026
