Mott Avenue / Bay 24th Street
Bay 24th Street, New York, NY, 11691, US
59 044 m²
Caractéristiques de l'actif
Surface de l'actif Net
1 240 m²
Nombre d'unités
25
Nombre d'étages
4
Nombre d'immeubles
2
Description de l'actif
JLL has been retained on an exclusive basis to arrange for the sale of 1055-1057 Second Avenue (the “Properties”) two adjacent 4-story buildings located on Second Avenue between 55th Street and 56th Street.
The properties have a combined 50 square feet of frontage and consist of 21 residential and 4 retail units. 82% of the units in 1055 are free market and 10 of the 11 units are studios with 1 two bedroom. 1057 Second Avenue has 8 studios and 2 two bedroom apartments and is 50% free market with 4 rent stabilized and 1 rent controlled unit.
Ownership of the properties is developing a luxury residential tower at 1059-1061 Second Avenue and may agree to lease the 600 SF retail space in 1055 Second Avenue for 30 months at $75 per square foot to provide additional cash-flow as they complete construction. Ownership’s adjacent development is expected to total approximately $200M and speaks volumes to the strength of the location where demand for high-end rental and for-sale product in a walk-to-work
location exceeds supply.
...
Points clés d'investissement
65% of the 21 Residential Units are Free Market
$704,853 in Projected Net Operating Income
35% below market rents on free market units
Direct access to the 4 5 6 N R F
Walk to Walk Optionality just steps from NYC Central Business District
Média
1055-1057 Second Avenue (0 actifs)
Contacter l'équipe
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Dernière mise à jour
5 mai 2025