Avison Young
Listed by Avison Young
Unpriced
225 East 58th Street
Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building, Storefront
Square Footage 10,925
Units 11
NOI $414,764
Occupancy 100%
Tenancy Multi
Class B
Year Built 2001
Stories 5
Lot Size (SqFt) 2,511
Investment Type Owner/User
Ground Lease No
100% FM | Mixed Use | 10,925 SqFt
Marketing description
Avison Young, as the exclusive agent, is pleased to offer for sale 225 East 58th Street (the "Property"), a premium turn-key mixed-use building located in the heart of Manhattan's Midtown East neighborhood and within the renowned Decorative Arts District. The Property comprises 9,500 gross square feet (10,925 total square feet including legal cellar and retail mezzanine) and features 10 free-market residential apartments and one ground-floor commercial retail store. Built in 2001, the building has been meticulously maintained, is free of rent regulation, and offers a unique opportunity to acquire a fully leased asset with virtually zero required capital expenditure.
Investment highlights
- Premium Midtown East Location: Positioned within the Decorative Arts District, adjacent Bloomingdale's flagship, Bloomberg Tower, and countless area amenities and public transit options.
- Rental Upside Potential: Strong in-place rents, with the opportunity for light unit renovations to drive meaningful rent growth upon turnover.
- Free-Market Flexibility: All residential units are free-market, providing the owner with full control to adjust rents to market conditions without regulatory constraints.
- Ideal Core Investment: A fully leased, stabilized asset with dependable cash flow and a clear path to value enhancement through targeted improvements.
- User Potential: Annual residential leases and owner-occupied store provide flexibility to deliver the property with partial vacancy for a potential end-user.
Listing Contacts
Avison Young
Listed by Avison Young
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$414,764.00
$34,563.67/mo
Valuation Metrics
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Zoning
R8B ResidentialTwo FamilyGeneral Residence
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