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221 E 60th St 7 Unit Apartment Building $5,750,094 CAD ($821,442 CAD/Unit) 6% Cap Rate New York, NY 10022
Investment Highlights
- Cash-Flowing Asset with Upside Potential
- Irreplaceable Location with Great Light and Air
- Cash-Flowing Asset with Upside Potential
- Access to Transit
Executive Summary
Avison Young, as the exclusive agent, is pleased to offer for sale 221 East 60th Street (the “Property”), a 5-story multifamily walk-up building with 20 feet of frontage located on the north side of East 60th Street between Second and Third Avenues in the heart of Manhattan’s highly desirable Lenox Hill submarket.
The Property spans approximately ±6,720 square feet and is comprised of one retail space on the ground floor and seven residential units above. The retail component of the property is currently occupied by Valley Design Center through December 2028. Of the residential units, three are free-market and four are rent-stabilized (RS). All of the rent stabilized units are studios, while the three FM units include one 1-bedroom, one 2-bedroom and one flex 5-bedroom with a patio. The Property is 100% occupied with upside potential in the FM rents.
The Property spans approximately ±6,720 square feet and is comprised of one retail space on the ground floor and seven residential units above. The retail component of the property is currently occupied by Valley Design Center through December 2028. Of the residential units, three are free-market and four are rent-stabilized (RS). All of the rent stabilized units are studios, while the three FM units include one 1-bedroom, one 2-bedroom and one flex 5-bedroom with a patio. The Property is 100% occupied with upside potential in the FM rents.
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Property Facts
| Price | $5,750,094 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $821,442 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 6% | Building Size | 6,720 SF |
| No. Units | 7 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | ||
| Zoning | R8B - commercial district predominantly residential in character. | ||
| Price | $5,750,094 CAD |
| Price Per Unit | $821,442 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 6,720 SF |
| No. Stories | 5 |
| Year Built | 1910 |
| Zoning | R8B - commercial district predominantly residential in character. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | - | - |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Number | 1415-0011 | Improvements Assessment | $797,942 CAD |
| Land Assessment | $809,587 CAD | Total Assessment | $1,607,529 CAD |
Property Taxes
Parcel Number
1415-0011
Land Assessment
$809,587 CAD
Improvements Assessment
$797,942 CAD
Total Assessment
$1,607,529 CAD
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221 E 60th St
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