1266 - 1270 LEXINGTON AVENUE

For Sale - Manhattan - Upper East Side

$44,750,000

Net Operating Income: $1,759,307

Ic expand

Key Details

Property Type
Mixed Use
Neighborhood
Upper East Side
Property Dimensions
36.0 x 100.0
Property Area
23,598 sq.ft.
Total Units:
27
Stories:
7
NOI
$1,759,307
Price
$44,750,000

Listing Description

JLL has been exclusively retained to sell 1262-1270 Lexington Avenue, a prime corner mixed-use building located at the northwest corner of East 85th Street and Lexington Avenue in the Upper East Side neighborhood of Manhattan. The building stands 7 stories tall, contains an elevator and measures approximately 23,598 gross square feet above grade. Furthermore, the building features 139’ of valuable wraparound retail frontage and is positioned steps away from the Lexington Avenue/86th Street Subway entrance, one of New York City’s busiest subway stations per annual ridership.

1270 Lexington Avenue consists of 23 residential units and 4 commercial units. Of the residential units, 18 are free market, 3 are rent stabilized and 2 are rent controlled. The 3 retail/commercial units above grade are all leased to quality tenants including Metropolitan Bank, Paris Baguette and AVW Partners (a co-working company on the second floor). These tenants have long term commitments to the property with the nearest lease expiration in 2027. The remaining commercial unit is located in the basement and contains approximately 1,500 square feet, providing immediate upside for prospective investors. Furthermore, the property possesses approximately 14,202 square feet of air rights for future redevelopment or expansion of the existing structure.

Property Details

Block/Lot:
1514/16
Lot Dimensions
37.0 x 102.17
Lot Area
3,750 sq.ft
Zoning:
C5-1A
FAR as Built:
6.29
Max FAR:
10.0
Robert KnakalJLL
Contact Agent Download Listing Flyer

Sales & Transactions

AddressSale PriceSale DateProperty Type
47 EAST 63RD STREET$7,425,00007/23/2018Mixed Use
1628 YORK AVENUE$8,086,95707/12/2018Mixed Use
1632 YORK AVENUE$6,065,21707/12/2018Mixed Use
1291 3 AVENUE$8,095,33406/28/2018Mixed Use
225 EAST 60TH STREET$7,000,00006/20/2018Mixed Use
4 EAST 77TH STREET$8,900,00004/16/2018Mixed Use
1528 1 AVENUE$14,938,62504/12/2018Mixed Use
1514 1 AVENUE$16,200,00003/22/2018Mixed Use
420 EAST 80TH STREET$86,000,00003/22/2018Mixed Use
1694 2 AVENUE$7,450,00003/06/2018Mixed Use