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|Number of units||20|
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.
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.