309 E 92nd Street, New York, NY 10128

Upper East Side, New York, New York 10128

$10,450,000  

Listing ID Number

25302

Property Description

309 East 92nd Street is a five story, 10 unit free-market apartment building located between First and Second Avenues in the Yorkville neighborhood of Manhattan’s Upper East Side. The approximately 8,600 square foot building is comprised of nine (9) four-bedroom apartments and one (1) two-bedroom apartment, with an average unit size of 731 sqft. A complete gut renovation of the building was completed in 2015 and the property is entirely free-market. All units are finished to condo quality and contain stainless steel appliances, granite countertops, central heat/air and in unit washer/dryer. A newly constructed roof deck and individual basement storage are additional amenities offered to tenants. The property is in close proximity to the 6 train at 86th Street and Lexington Avenue, as well as the Second Avenue Q subway stop at Second Avenue and 86th Street. 309 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.

Overview

Building Type:Apartment Buildings
Lot Sq Ft:2,517
Stories:5

Summary

Price Per Sq Ft:$1,215
Capitalization Rate:4.80%

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Robert M. Shapiro
Executive Managing Director
(212) 660 7717
robert.shapiro@cushwake.com

Ian Brooks
Senior Associate
(212) 589 5107
ian.brooks@cushwake.com

Brendan Maddigan
Executive Managing Director
(718) 307 6507
brendan.maddigan@cushwake.com

Michael Gigante
Senior Associate
(718) 307 6555
michael.gigante@cushwake.com

Thomas D. Gammino Jr.
Executive Managing Director
(212) 660 7727
tom.gammino@cushwake.com

Brett Weisblum
Director
(212) 660 7784
brett.weisblum@cushwake.com


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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.