Asking Price
NOI Net Operating Income N/A
Cap Rate
Asking Price
NOI Net Operating Income N/A
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Building Area
Land Area ()
Number of units 9

Property description

JLL has been retained on an exclusive basis to arrange for the sale of 1301 Third Avenue a 20’ wide, 5,800 GSF, predominantly Free Market building located on the east side of Third Avenue between East 74th and East 75th Streets on the Upper East Side. Built in 1910, the 5-story property features 8 apartments, 5 Free Market, 2 Rent Control and 1 Rent Stabilized. Of the 5 free market apartments, all are delivered vacant allowing an investor to add substantial value. The ground floor commercial unit at the Property is occupied by Benefit Cosmetics, a subsidiary of LVMH, who currently pays $281,820 in rent annually. The unit breakdown consists of all spacious one-bedroom apartments. Free market units 1R and 4R have been completely gutted by current ownership, providing a blank canvas for potential investors.

Investment highlights

In regards to connectivity, the property is located in a neighborhood with a rich culture of fine cuisines and high-end retailers (home to stores such as Equinox, The Milton, Starbucks, and Whole Foods), and is within close proximity to the 72nd Street - Second Avenue subway station, which services the N, Q, + R trains, and a few blocks from the 68th Street – 6 train subway stop. 1301 Third Avenue presents an excellent opportunity for investors to acquire a well located, low maintenance, protected tax class multifamily building with significant upside with avenue presence in an excellent location.

Last Updated Date: 17 Jun 2021
Guthrie Garvin
Guthrie Garvin
Managing Director, Capital Markets
Broker Licenses
NY-30GA1030860

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Last Updated Date: 17 Jun 2021

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