JLL has been retained on an exclusive basis to arrange for the sale of a 27’ wide, walk-up building containing 20 apartments comprised of 17 one-bedrooms and 3 studios. 80% of the apartments are Free Market providing a path to grow revenues as rents continue to appreciate. The property is located on the south side of East 66th Street between First and York Avenues directly across the street from Memorial Sloan Kettering Hospital and is comprised of approximately 8,910 Sq. Ft.
The property benefits from recent upgrades to the common areas as well as the 16 Free Market apartment units. The remaining 4 Rent Stabilized units are in legacy condition. The Free-Market apartments have been renovated to newly upgraded kitchens and bathrooms, and in-unit washer and dryer. Additionally, the units are finished with wide-planked strip-wood flooring and marble-tiled bathrooms. The Free Market units are renting for an average of $2,956 per month while the Rent Stabilized units are averaging $2,079 which represents a 30% discount to prevailing market rent within the building.
- 27 Feet of Frontage
- 8,910 Gross Sq. Ft.
- 6 Floors of Rentable Sq. Ft.
- 20 Apartments - 80% Free Market
- Turn-Key Finishes with Strong Cash Flow
- Pristine Apartment Renovations with New Kitchens, Bathrooms, and In-Unit Washer/Dryer
- Updated Common Areas
- Individually Metered for Electric
- Conveniently Located near 4 5 6 N Q R W F Trains