322 E 79th St
New York, NY 10075
Multifamily Property For Sale · 10 Units

We have been tasked with arranging the sale of this handsome walk-up building rental in Manhattan’s Upper East Side. Located in one of the most popular and sought-after residential neighborhoods in the city with unwavering demand; on the south side, mid-block, between First and Second Avenues, this 5-story walk-up building consists of 10 apartments and over 6,610 gross square feet. Ten residential units; two are rent stabilized / eight are free market. The units vary in size from a large 2-bedroom duplex on the ground floor with private garden, to oversized 1-bedroom apartments on the upper floors and a studio unit on the ground floor near the building entrance. Most of the apartments have been gut-renovated, with many receiving between $45,000 and up to $300,000 in improvements, by the current owner. Upgrades include washer/dryer units, marble countertops, new flooring, exposed brick, recessed lighting, ample closet space, Italian marble baths and much more. Most of the kitchens have also been updated to include stainless steel appliances with full-sized stoves, built in microwaves, granite counter tops and dishwashers. Substantial upside remains in three apartments; #2A, #2B and #4A, that have not been renovated and are under market. The most impressive apartment is 1B, the duplex unit in the rear of the ground floor and garden level. After a $300,000 renovation, the 2-bedroom, 2-bathroom duplex with the possibility may exist to convert the living room area to an office or third bedroom. The garden level of the duplex has a small glass atrium with direct access to the private rear yard. Current ownership extended the rear of the ground floor and duplex by 11’.