ID: 10373
price + fee





ELEVEN STORY 59 UNIT NEWLY BUILT CORNER MIXED-USE BUILDING



EXCELLENT INVESTMENT/USER OPPORTUNITY

PARK AVENUE

NEW YORK, NEW YORK



Location: East 111th Street and Park Avenue


Lot Size: 50' x 201' irr

Building Size:

First Floor:---------50' x 201' = 7,000

Second Floor: ----50' x 201' = 7,000

Third Floor:--------50' x 176' = 6,500

Fourth Floor:------50' x 176' = 6,500

Fifth Floor:---------50' x 176' = 6,500

Sixth Floor:--------50' x 176' = 6,500

Seventh Floor: 50' x 176' = 6,500

Eighth Floor: 50' x 151' = 6,000

Ninth Floor: 50' x 131' = 5,000

Tenth Floor: 50' x 131' = 5,000

Eleventh Floor: 50' x 131' = 5,000

Stories: Eleven (11)

Gross Square Feet: 67,500

Zoning: (FAR) R8A (6.02), R7-2 (3.44) with a C1-4 and C1-5 Overlay (2.0)

Assessment: $6,072,570 (25/26)

Taxes: $129,367.96 35 year tax abatement

A 50’ wide 59 unit eleven (11) story mixed-use corner luxury apartment building. The property has a commercial space on the first and second floors. The upper floors have a mixture of studio, one and two bedroom apartments. The building has 18 rent stabilized units and 41 free market apartments.



The building known as The Pearl On Park Avenue has 24 hour concierge attended lobby. Residents lounge with outdoor terrace, fitness room, and rooftop sundeck. Package room, bike storage, co-working lounge.



The property is a prime investment opportunity, the owner kept the store empty so an investor can put their own commercial tenant in the building. Newly built, low maintenance cost.



The building is also a great user opportunity, they can have their business on the ground floor and occupy one of the units above.



Located in prime East Harlem, the property is one block from the 6 train on Lexington Ave & East 110th Street. This new rental development has lots of demand for the apartments.


ASKING PRICE: $55,000,000