Building & Unit Features
Courtesy Of The Corcoran Group
Calling all Investors and Developers!If you are an investor or developer you can be a part of this newly revitalized neighborhood in the heart of the Upper East Side at 81st and Second Avenue a few blocks from the Q train, restaurants, and shops. The subject property is built 15 ft. wide by 45 ft. on a 102.7 ft. lot. It is currently configured as a three unit building with a thriving restaurant on the ground floor and two rental apartments. It is approximately 3,835 SF (500 SF in the basement) with additional development rights of approximately 2500 sq ft. Zoning is R8B. A large terrace of approximately 260 sq ft graces the back of the 1st-floor apartment. The current income is substantial- currently, $256,800. Tenants in the upper two units are in place until 2021. 3.8% cap rate. There are many uses for this property: a single family conversion, mixed-use, live/work with a restaurant, retail or office. The owner is able to close quickly making it a great fit for a 1031 exchange buyer.
Kian Realty Does Business in Accordance With the Federal Fair Housing Law.
All information furnished herein is from sources deemed reliable. No representation is made by Kian Realty NYC, LLC. nor is any to be implied as to the accuracy thereof and all information is submitted subject to errors, omissions, change of price, prior sale or lease, or withdrawal without notice. All dimensions are approximate. For exact dimensions, please hire your own architect or engineer.
Regarding Leasing Only: Applicants Must Demonstrate their ability to pay rent either through employment or other means.