Listed by JLL - New York City, New York, Matthews, JLL
$10,950,000
225 East 25th Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,876
Units 20
Cap Rate 5.77%
Occupancy 100%
Year Renovated 2024
Stories 5
Lot Size (SqFt) 2,469
Zoning R8B
Multifamily | 5.77% CAP | 20 Units
Marketing description
JLL has been retained on an exclusive basis to arrange for the sale of 225 East 25th Street, a 25’ wide, five story walk-up building located on the North side of East 25th Street between Second and Third Avenues. Comprised of 10,737 gross sf. ft. above grade, the apartments feature efficient layouts with 15 one-bedroom and 5 two-bedroom apartments. The two-bedroom units are ideal for sharestyle living while the one bedroom unit will attract couples or single tenants. The property recently underwent a significant renovation which included upgrading all Free Market units to condominium level finishes and updating the common areas.
Of the 20 apartments 17 (85%) are Free Market, one is Rent Stabilized with a preferential rent, and two are Rent Stabilized. The Free-Market units are renting for an average $4,321/month, the Rent Stabilized Pref. unit is renting for $2,044/month, and the Rent Stabilized units are renting for an average of $1,098/month. All of the Free-Market apartments have been fully renovated and feature brand new stainless steel appliances, in-unit washer dryers, wood plank flooring, access via Butterfly virtual doorman system, exquisite bathroom finishes, and upgraded electric and plumbing
With regard to infrastructure, the building is heated by a dual fuel boiler and the units are individually metered for gas and electric.
The property is located between the Gramercy and Kips Bay neighborhoods - a popular location for young professionals desiring convenient access to both midtown Manhattan and the many bar and nightlife options in downtown Manhattan. 225 East 25th Street is also located within proximity to several large hospitals including Mount Sinai Beth Israel, VA NY Harbor Hospital, Bellevue Hospital, and NYU Langone - all of which drive demand for quality rental housing in the neighborhood.
225 East 25th Street will appeal to investors seeking a primarily Free Market, newly renovated, cash-flowing asset in one of New York City’s most dynamic locations. The property will be sold on an as-is, where-is basis.
Investment highlights
- 20 Units
- 85% Free Market
- Steps from Baruch College & Madison Square Park
- Desirable Location for Young Professionals
- Easy Access to 4 5 6 R W Subway Lines
Listing Contacts
Listed by JLL - New York City, New York, Matthews, JLL
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Zoning
R8B ResidentialMulti FamilyGeneral Residence
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