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.