335 First Ave 6 Unité Immeuble d’appartements 4 514 624 $ CAD (752 437 $ CAD/Unité) 8,05% Taux de capitalisation New York, NY 10003

Property Overview:
An exceptional opportunity to acquire a mixed-use asset located along one of Manhattan's busiest commercial corridors. 335 1st Avenue is a four-story walk-up building offering an ideal opportunity for investors, owner-users, developers, or medical/professional office occupants seeking a highly visible location with both income and value-add potential.
Property Highlights:
* Ground-floor commercial space with an existing former medical office build-out, suitable for a variety of professional or retail uses.
* Excellent opportunity for an owner-user or investor seeking stable income with future upside.
* Real estate taxes are currently under formal grievance. Based on the pending appeal, ownership anticipates an annual tax reduction of approximately $35,000-$50,000 in September of this year.
* Retail tenant is responsible for 30% of real estate tax increases, helping offset future operating expense growth.
* Residential tenants pay their own heat, reducing landlord operating expenses.
* One rent-stabilized apartment will be delivered vacant, providing flexibility for occupancy, renovation, or leasing (subject to applicable laws).
* Three of the six residential units have been renovated, offering immediate rental upside while leaving additional value-add potential.
* Strong foot traffic, highly visible frontage on 1st Avenue.
The existing commercial layout, combined with the property's prime First Avenue frontage and excellent street visibility, makes this space well-suited for a wide range of commercial uses. It is particularly attractive for medical and dental practices, physical therapy, chiropractic, behavioral health, wellness and beauty operators, law or accounting firms, architecture or design studios, and boutique retail concepts. The flexible floor plan offers an excellent opportunity for an owner-user seeking a prominent Manhattan location or an investor looking to lease to high-quality commercial tenants in a well-established neighborhood with consistent pedestrian and vehicular traffic.