Asking Price
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Building Area
Number of units 4

Property Description

165 East 71st Street is an entirely free market building located in one of Manhattan’s most sought after residential neighborhood, the Upper East Side. The five-story building is currently split across 4-units, including three 2-bedroom apartments and one 3-bedroom ‘owner’s duplex’. The entrance to the owner’s duplex is accessed through a small lobby at the garden level. With an approximately 25 foot deep extension on the garden and parlor floors, the roughly 2,750 square foot owner's unit has 3 bedrooms, 2.5 bathrooms, a large living area, and a renovated kitchen with lacquered cabinets, Bertazzoni oven and Wolf dishwasher. The duplex is centered around a beautiful elliptical staircase, leading to a sitting area on the parlor floor with a fireplace and tasteful built-in shelving. The private master suite contains a large walk-in closet, master bath with rain shower and soaking tub, as well as French doors which open to the bedroom. This duplex also enjoys a stone foyer with bountiful coat closets, in-unit washer/dryer, and exclusive use of the building's garden. The building's stoop was removed in 1957, thus allowing for a beautiful full-width bedroom or living room with massive windows on the front of the south-facing parlor floor.


Located above the duplex on the third floor is a renovated 2-bedroom, 1-bathroom apartment with an approximately 360 square foot terrace. The fourth floor contains a 2 bedroom, 2-bathroom apartment and on the fifth floor, where a mansard-roofed addition was later added, there is another renovated 2-bedroom, 2-bathroom apartment All units have been gut renovated to an extremely high standard by the current ownership.


Located on a quiet townhouse block in the Upper East Side Historic District, this property is in close proximity to vibrant retail and restaurant corridors on Lexington and Third Avenues, as well as the 6 train at 68th Street – Hunter College and the Q train at 2nd Avenue and 72nd Street.

Investment Highlights

Premier Location


The Property sits in the heart of Lenox Hill in the Upper East Side Historic District embodying the classic tree-lined streets of charming Brownstone buildings that has made the Upper East Side of Manhattan world famous. The Property is also only a short 5-minute walk from Central Park and ‘The Gold Coast’ retail corridor on Madison Avenue, offering an abundance of recreational, high-end retail and premium cuisine options close by.


Thoughtful Finishes


The recently renovated building boasts elegant and tasteful finishes across every floor. Each unit features stainless steel appliances, pristine hardwood floors, new bathrooms, and large family rooms all in excellent condition, creating an ideal living experience.


Connectivity


The Property sits conveniently between two subway stops at 68th Street – Hunter College and 72nd Street servicing the 6, Q , N and R trains. Additionally, there are 5 Citi Bike locations within a 3 block radius of the Property, offering easy transportation for anyone looking to navigate the neighborhood.


Stable Product


As of the most coveted live-work-play neighborhoods in Manhattan, the Upper East Side and more specifically Lenox Hill, garners extreme demand from renters and retailers alike. The Lenox Hill neighborhood has historically experienced vacancy rates of below 5% and has continued to rent well through the pandemic.

Last Updated Date: 26 Aug 2021
Guthrie Garvin
Guthrie Garvin
Managing Director, Capital Markets
License details
NY-30GA1030860
Bob Knakal
Bob Knakal
Chairman, NY Investment Sales, New York Office Co-Head
License details
NY-10311207925

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Last Updated Date: 26 Aug 2021

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