Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1910
Building Area
Number of units 20

Property Description

345 East 92nd Street is a five (5) story multifamily property building located on the north side of East 92nd Street and between First Avenue and Second Avenue. It contains 20 apartments of which 17 are Free Market, 3 are Rent Stabilized. There is a <$4,000,000 mortgage on the property.

Investment Highlights

JLL has been retained on an exclusive basis to arrange for the sale of 345 East 92nd Street a 25’ wide, 8,540 GSF, predominantly Free Market building located on the north side of East 92nd Street between First and Second Avenue in the Yorkville neighborhood of the Upper East Side. Built in 1910, the 5-story

property features 19 apartments that boast over $700,000 in annual revenue. The unit breakdown consists of 1 studio, 3 one-bedroom units, and 16 two bedroom units, which are currently leased for an average of $2,831 ($84/SF) per month. A complete gut renovation of the building was completed in 2018 with condo quality finishes such as stainless-steel appliances, granite countertops, and in unit washer/dryer.


In regards to connectivity, the property is located in a neighborhood with a rich culture of fine cuisines and high-end retailers (home to stores such as Equinox, The Milton, Starbucks, and Whole Foods), and is within close proximity to the 96th Street - Second Avenue subway station, which services the N, Q, +R trains, and less than one block from the 92nd Street – Second Avenue bus stop. 345 East 92nd Street presents an excellent opportunity for investors to acquire a well located, low maintenance, multifamily building with significant in-place cash flow and remaining upside.

Last Updated Date: 10 Jun 2021
Guthrie Garvin
Guthrie Garvin
Managing Director, Capital Markets
License details
NY-30GA1030860

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Last Updated Date: 10 Jun 2021

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