Investment Overview: The subject property is a recently built six-story mixed-use elevator building in a prime Upper East Side location. The building unit mix has the following breakdown: *Commercial Space: The cellar, ground floor, and second floor are configured as one commercial unit totaling approximately 4,651 square feet. The fully useable cellar is built 20 x 96.5, the ground floor is built 20 x 70.7 and features an approximately 600 square foot outdoor patio and the second floor is built 20 x 65 with a small front terrace. Both the ground and second floors feature 10 foot ceilings. This space is currently vacant and is located steps away from several national credit tenants and Bloomindale's Flagship location. * Residential Unit #1: The third and fourth floor are combined into one luxury, duplexed three bedroom/ three full bath loft apartment containing approximately 2,612 square feet. The unit features high-end condominium level finishes and includes: floor to ceiling windows, keyed elevator access, hardwood floors, three wood burning fireplaces and an open chef's kitchen. This unit is currently occupied and is in the back end of a 2 year lease. The tenant has an additional two-year option with a 5% annual increases, subject to termination by new owner. The tenant is responsible for his own heat and electric expenses. * Residential Unit #2: The fifth and sixth floors total about 2,612 square feet and are combined into a luxury, 3-bedroom/3 full bath triplex apartment with access to an approximate 1,000 square foot private roof deck. The unit features high-end condominium level finishes and includes: floor to ceiling windows, keyed elevator access, master bedroom with en-suite master bath, and an open chef's kitchen. This unit is currently vacant and would make an ideal home for a potential live plus income investor. This property represents a rare opportunity to acquire a six-story elevator building located steps away from Bloomingdale's on East 59th Street and Lexington Avenue. Due to the buildings unique lay out and trophy location, there are multiple ways to look at the asset, including as: cash-flowing investment, live-plus income opportunity, retail user opportunity or condominium conversion. Traditionally one of the most mature and stable rental markets in Manhattan, this Upper East Side mixed-use building is conveniently located steps away from the 4, 5, 6, N, Q, R, and F trains. Investment Highlights: * Recently Constructed Six-Story Elevator Building on East 60th Street Located Between Lexington and Park Avenues * Located Steps away from Bloomingdales on 59th Street and Lexington Avenue * Various Potential Investment Scenarios: cash-flowing investment, live-plus income opportunity, retail user opportunity or condominium conversion. * Approximately 4,651 square foot vacant retail space: Features ground floor outdoor patio, second floor front patio, 10 foot ceilings on ground and second floor and a finished cellar with 9 foot ceilings * Two 2,612 square foot luxury rental apartments: Top Unit features approximate 1,000 square foot private terrace and can be delivered vacant. Ideal apartment for live plus income investor * All units are separately metered: tenants pay their own heat and electric * One Block to the 4, 5, 6, N, Q, R, and F Subway Trains
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
