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.