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1012/1018 Lexington Avenue 2 Multifamily Properties Offered at $9,250,000 in New York, NY
INVESTMENT HIGHLIGHTS
- 8 FM residential units and 3 retail units across 8,284 SF
- Situated in the heart of the highly desirable Upper East Side submarket along the highly foot trafficked Lexington Avenue
- 100% occupancy with strong rents across both buildings. Residential units are all thoughtfully renovated and FM
EXECUTIVE SUMMARY
Avison Young, as the exclusive agent, is pleased to offer for sale two cash-flowing walk-up mixed-use properties in the heart of Manhattan’s highly desirable Upper East Side. Located at 1012 Lexington Avenue and 1018 Lexington Avenue, the properties comprise eight (8) residential units and three (3) commercial spaces across 8,284 square feet.
Both properties are meticulously maintained, and residents enjoy modern features including keyless entry fobs and intercom systems. The residential units, which are comprised of 5 studios and 3 one-bedrooms, are fully FM and are achieving very strong rents, with the average in-place rent psf reaching $116 across the two buildings. The retail tenant roster, which boasts a 7.03-year WALT, includes Spa Niobe (1012 Lexington ground & second floor), Grace Deli (1018 Lexington ground floor), and Wo’s Bespoke Clothier (1018 Lexington second floor). The average rent for these three tenants is $137/SF. With a combined 34 feet of frontage along this high-traffic corridor, the commercial units benefit from significant visibility and action.
Both properties are meticulously maintained, and residents enjoy modern features including keyless entry fobs and intercom systems. The residential units, which are comprised of 5 studios and 3 one-bedrooms, are fully FM and are achieving very strong rents, with the average in-place rent psf reaching $116 across the two buildings. The retail tenant roster, which boasts a 7.03-year WALT, includes Spa Niobe (1012 Lexington ground & second floor), Grace Deli (1018 Lexington ground floor), and Wo’s Bespoke Clothier (1018 Lexington second floor). The average rent for these three tenants is $137/SF. With a combined 34 feet of frontage along this high-traffic corridor, the commercial units benefit from significant visibility and action.
PROPERTY FACTS
| Price | $9,250,000 | Number of Properties | 2 |
| Price / SF | $1,031 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 8,976 SF |
| Status | Active | Total Land Area | 0.07 AC |
| Price | $9,250,000 |
| Price / SF | $1,031 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 8,976 SF |
| Total Land Area | 0.07 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1012 Lexington Ave, New York, NY 10021 | Multifamily | 4,624 SF | 1930 | - |
| 1018 Lexington Ave, New York, NY 10021 | Multifamily | 4,352 SF | 1910 | - |
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1012/1018 Lexington Avenue
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