1492 1st Ave Immeuble residentiel 6 lots 3 899 250 € (649 875 €/Lot) New York, NY 10075

Cushman & Wakefield has been exclusively retained to arrange for the sale of 1492 First Avenue– a four-story mixed-use building located in the Upper East Side neighborhood of Manhattan. The subject property is located on the east side of First Avenue between East 77th and 78th Streets. Spread across approximately 7,800 gross square feet above grade, the building is 26’ wide and is currently configured as ground floor retail, which is owner occupied and will be delivered vacant, and six (6) residential units above. The six (6) residential units are configured as three 2-bedrooms and three 1-bedrooms. Of the 2-bedroom units, one (1) is Free Market, one (1) is Rent Controlled, and one (1) is Rent Stabilized. Of the three 1-bedroom units, two (2) are Free market and one (1) is Rent Stabilized. The property sits on a 25.5’ x 77.08’ lot in a C1-9 zoning district, which equates
to approximately 11,050 remaining development rights, as of right. Family-owned for nearly 50 years, the property is an excellent opportunity for a purchaser to
acquire a mixed-use building, with upside at an attractive basis in the coveted Upper East Side neighborhood. There is upside in the in-place market apartments that can be realized by implementing a capital program for the building as well as enhanced renovations in the units themselves as well as inserting a high value retail tenant once the owner-occupied space is vacated. 1492 First Avenue is situated in the center of the bustling Yorkville area of the Upper East Side, with plentiful restaurants, shops, schools, hospitals, museums, green spaces, and parks. It is also centrally located between the Q subway line on 2nd Avenue, the 4 , 5 , and 6 lines on Lexington Avenue, crosstown buses and the FDR.