345 EAST 65 STREET

For Sale - Manhattan - Upper East Side

$8,995,000

Net Operating Income: Contact Agent

Ic expand

Key Details

Property Type
MultiFamily
Neighborhood
Upper East Side
Property Dimensions
27.0 x 79.0
Property Area
10,060 sq.ft.
Total Units:
20
Stories:
5
NOI
Contact Agent
Price
$8,995,000

Listing Description

Avison Young has been engaged by ownership as the exclusive agent to sell 345 East 65th Street in the Lenox Hill neighborhood of Manhattan. Located on the north side of East 65th Street between First and Second avenues. The multi-family property, which has had the same owner for 20+ years, features 10,060 ± gross square feet and 20 residential apartments.

The property is currently comprised of nine one-bedroom apartments, nine are two bedroom apartments and two three bedroom apartments. 16 units are free-market, three are rent-stabilized and one is rent-controlled. The majority of the free-market apartments have been renovated to include granite countertops, stainless steel appliances, exposed brick and marble bathrooms. The building benefits from a laundry room in the basement. Given the large percentage of free-market units this property provides strong in- place cash flow, with future upside in rent growth.

Lenox Hill’s residential feel, combined with major economic drivers and its proximity to the Second Avenue Subway, continues to drive residents and investors to the neighborhood. 345 East 65th Street offers a potential investor the opportunity to generate future cashflow in one of Manhattan’s most sought-after locations.

Property Details

Block/Lot:
1440/21
Lot Dimensions
27.0 x 100.42
Lot Area
2,711 sq.ft
Zoning:
R8B
FAR as Built:
3.71
Max FAR:
4.0
Hannah Bryon StaplesAvison Young
Contact Agent Download Listing Flyer

Sales & Transactions

AddressSale PriceSale DateProperty Type
1626 YORK AVENUE$12,130,43507/12/2018MultiFamily
1624 YORK AVENUE$8,086,95707/12/2018MultiFamily
345 EAST 92ND STREET$6,075,00007/11/2018MultiFamily
228 EAST 81ST STREET$11,300,00006/26/2018MultiFamily
343 EAST 76TH STREET$9,500,00006/26/2018MultiFamily
503 EAST 83RD STREET$6,380,00006/14/2018MultiFamily
433 EAST 85TH STREET$5,550,00006/08/2018MultiFamily
39 EAST 67TH STREET$16,000,00005/23/2018MultiFamily
309 EAST 92ND STREET$9,300,00005/07/2018MultiFamily
313 EAST 92ND STREET$8,400,00004/30/2018MultiFamily