1122 Third Avenue, New York, NY 10065

Upper East Side, New York, New York 10065

$9,400,000  

Listing ID Number

23990

Property Description

The subject property is a 20’ wide, four-story, mixed-use building located on the west side of Third Avenue between 65th Street and 66th Street. The building features a ground floor retail unit that is occupied by True Religion, a high-end denim company, and six studio apartments on the floors above. Of the six residential units five are free market while the remaining is rent stabilized. The property is positioned in an exceptionally strong retail corridor with national retailers such as Lululemon, Pier 1 Imports, Nike, Starbucks and major banking institutions including Bank of America and TD Bank all within close proximity.

Located in the heart of the Upper East Side, 1122 Third Avenue has excellent access to transportation as it is within a short walking distance to the and subway lines at 59th Street as well as the subway line at 63rd Street. Additionally, the property benefits from access to several major medical facilities including Manhattan Eye, Ear and Throat, Memorial Sloan Kettering and Weill Cornell Medical College. This represents an excellent opportunity to acquire an income producing asset containing significant long-term upside potential within one of the most desirable and connected areas of Manhattan.

Overview

Building Type:Mixed-Use Investment Buildings
Stories:4
Residential Units:6
Commercial Units:1
Zoning:C1-9
Taxes:$125,963
Building Sq Ft:4,100

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Robert A. Knakal
Chairman, New York Investment Sales
(212) 660 7777
robert.knakal@cushwake.com

Guthrie Garvin
Senior Managing Director
(212) 660 7786
guthrie.garvin@cushwake.com

Michael Gembecki
Director
(212) 660 7743
michael.gembecki@cushwake.com

George D'Ambrosio
Director
(212) 660 7790
george.dambrosio@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.