453 EAST 83 STREET

For Sale - Manhattan - Upper East Side

$5,000,000

Net Operating Income: $125,000

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Key Details

Property Type
MultiFamily
Neighborhood
Upper East Side
Property Dimensions
20.0 x 68.0
Property Area
6,915 sq.ft.
Total Units:
8
Stories:
5
NOI
$125,000
Price
$5,000,000
Price Per Unit
$625,000
Cap Rate
2.5%

Listing Description

B6 Real Estate Advisors has been retained on an exclusive basis to arrange the sale of 453 East 83rd Street, a 20ft-wide, five-story, walk-up, multifamily building of approximately 6,915 SF in the Yorkville neighborhood of Manhattan’s Upper East Side.

• 8 units, 5 vacant (1 free market, 4 rent-stabilized) and 3 occupied (1 free market, 2 rent-stabilized).
• Property has potential as a future substantial rehabilitation project, a new residential development, or as part of a development site assemblage.
• Recent condo sales on the Upper East Side have averaged more than $1,800 per square foot. At that level, a condo conversion for this building would sellout in excess of $10,000,000.
• Tax Class 2B – annual property tax increases capped.
• Located steps from York Avenue, a popular residential neighborhood lined with restaurants, cafes, bars and an array of everyday service providers.
• Includes approximately 6,760 SF of unused development rights.* — Download Setup for details.

Property Details

Block/Lot:
1563/121
Lot Dimensions
20.0 x 102.17
Lot Area
2,043 sq.ft
Zoning:
R10
FAR as Built:
3.38
Max FAR:
10.0
D.J. JohnstonB6 Real Estate Advisors
Contact Agent View Setup

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