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1429 Third Ave 4 Unit Apartment Building $3,800,000 ($950,000/Unit) New York, NY 10028
INVESTMENT HIGHLIGHTS
- 100% occupancy with strong in-place rents
- Retail fully leased to Springbone Kitchen through 2034
- Residential units are all thoughtfully renovated and 100% FM
- Situated in the heart of the highly desirable Upper East Side submarket along the highly trafficked Third Avenue
EXECUTIVE SUMMARY
Avison Young, as the exclusive agent, is pleased to offer for sale 1429 Third Avenue (the “Property”), a fully occupied cash-flowing walk-up mixed-use property in the heart of Manhattan’s highly desirable Upper East Side. Located on the eastern side of the block between East 80th and 81st Streets on the Upper East Side, the 4-story property is 3,288 SF and is comprised of fully vented retail at grade and three FM one bed/one bath residential units above. The retail tenant is Springbone Kitchen, a reputable healthy fast-casual tenant founded in 2016, and they occupy the 975 SF ground floor space until October 2034 paying $215/SF. The above residential component features beautifully maintained renovated units which feature in-unit washer/dryers, dishwashers, and king-sized bedrooms with 2 large windows and self-controlled A/Cs with an average in-place rent of $73/SF. The building is 100% occupied.
PROPERTY FACTS
| Price | $3,800,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $950,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.03 AC |
| No. Units | 4 | Building Size | 3,288 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1901 |
| Zoning | C1-9,Manhattan, (S3) | ||
| Price | $3,800,000 |
| Price Per Unit | $950,000 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 3,288 SF |
| No. Stories | 4 |
| Year Built | 1901 |
| Zoning | C1-9,Manhattan, (S3) |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 3 | - | - |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 1526-0046 | Improvements Assessment | $501,993 |
| Land Assessment | $296,207 | Total Assessment | $798,200 |
PROPERTY TAXES
Parcel Number
1526-0046
Land Assessment
$296,207
Improvements Assessment
$501,993
Total Assessment
$798,200
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1429 Third Ave
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