THE OFFERING

• Manhattan Connection Real Estate is pleased to offer the following opportunity: 1680 York Avenue, New York, NY, a well- maintained and professionally-managed elevator building, located on Manhattan's Upper East-Side.

THE LOCATION

• Northeast corner of York Avenue & East 88th Street.
• Located less than a block away from Carl Schurz Park and a few short blocks from 86th street multiple subway and cross-town bus services, plus easy access to highways, bridges, and water-way ferry service.

INVESTMENT OPPORTUNITY

• The Property is comprised 67,425 sq. ft, corner, elevator building spans 140-ft-wide on York Avenue and 100-ft on East 88th Street.
• The Property has: sixty-six (66) residential units across six (6) stories, twenty-one (21) garage spaces, laundry facility and a part time doorman service.
• This acquisition opportunity presents upside value through rental income growth. The spacious, large-than- average, unit layouts and quick access to midtown & downtown, provide tenants with convenience and spacious living in renovated, living environments.
• 1680 York Avenue offers investors considerable current and potential cash flow growth with a rare opportunity to control 140-feet of corner property with approximately 150,000-sq. ft. of future development rights.

BUILDING HIGHLIGHTS

• Natural-gas, heating system, with available oil back-up for continuous reliability.
• On-site staff includes, Part-Time Doorman (3pm-11pm), Porter and Live-In Superintendent.

Financial Highlights

• 17 of 66 units are rent stabilized with average legal rent of Studio at $1750, 1BR at $2500, 2BR at $3500
• 49 of 66 units are at Free-Market rent, currently rented at 30-40% below market rent due to current ownership’s post pandemic lease renewal incentive policy. This presents cash flow upside, upon rolling renewal or vacancy.
• 21 space garages fully lease at an average monthly rate of $475 with tremendous upside.