This Multifamily Property is Off-Market.

1578 First Avenue
New York, NY 10028 ·

Multifamily For Sale

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1578 First Avenue

Price N/A Commission Split 3%
Building Size 10,320 SF Cap Rate 4.40%
Property Type Multifamily No. Stories 5
Property Sub-type Mid/High-Rise Year Built 1920
Property Use Type Investment Lot Size 2,173 SF
Listing ID: 16162580 Date Created: 03/24/2009 Last Updated: 05/13/2009

Description

A five story plus full built-out basement, 27' wide 72' deep walk-up apartment mixed use building, with ground floor retail, located on the Upper East Side of Manhattan. Erected in 1920, the subject property is located on the north-east corner of First Avenue and East 82nd Street. The property is presently used as a first class turn key restaurant installation on the first floor (with a wine cellar on the lower level which is used for private parties). The restaurant has a C of O for 100 people.

The building has four stories of residential apartments (three per floor), five are free market rentals with 1 year leases, six are rent stabilized and there is one rent controlled apartment on the fifth floor. The property is in very good, well maintained condition. (See engineer' s report)
Please contact us for our marketing booklet that includes the current rent roll and engineers report.

Located on the Upper East Side on New York on 1st Avenue and 82nd Street.

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1578 First Avenue, New York, NY 10028 (New York County)

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