1599 York Avenue — Sale in New York, NY
- Price: Contact for price
- Listing type: For sale
- Asset type: Business
- Location: New York, NY 10028
Photos
Investment Figures
- Cap rate
- 5.03%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is the exclusive sales broker for 1599 York Avenue (“Property”), a walk-up apartment building on York Avenue between 84th and 85th Streets on the Upper East Side. The Property contains one commercial space, eight apartments and is in tax-class 2B. The commercial space is vented, currently occupied by a restaurant, includes a full basement prep area and is approximately 1,400 square feet above-grade. The apartments are one-bedrooms with front-to-back layouts; six are free-market and two are rent-stabilized. The building measures 25 feet by 66 feet totaling approximately 7,375 square feet and sits on a 25 by 75-foot R10-zoned lot with 11,300 square feet of unused development rights. The Property is a two-block walk to the 86th Street/Second Avenue subway station (Q-train) and four blocks to the 86th Street/Lexington Avenue subway station (6-train). The Property is a close to the First and Second Avenue retail corridors and a short distance from Carl Schurz Park, Asphalt Green and the East River. Investment Highlights: • Mixed-Use Building on York Avenue • One Commercial Space & Eight Apartments • 75% Free-Market; Tax-Class 2B • 11,300 sf of Unused Development Rights • Near Q-Train, Carl Schurz Park, Asphalt Green & East River
Market Context
This mixed use in New York, NY is listed for sale. It is offered at an approximate 5.0% capitalization rate, a key benchmark for income-producing mixed use assets. Compare it against other mixed use listings for sale in New York, NY — view the full market.
Contact
- John Stewart
- Dylan Torey
- Stephen Filippo · (212) 430-5288 · stephen.filippo@marcusmillichap.com
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