Property Description

Stephen P. Wald Real Estate Associates, Inc. has been exclusively retained to represent the sale of 223 East 89th Street, which is an Upper East Side walk-up building comprised of 20 residential units. Located within ¼ mile of the new Q subway line and ¼ mile from the 4,5,6 on a lovely tree-lined street. This is the first time the property is being offered for sale in nearly 50 years.
Renovated studios in this neighborhood rent for an estimated average of $2,200 and renovated one-bedrooms rent for an estimated average of $2,800. There is also additional upside for combinations. The rent roll is substantially below market on all free market apartments. This property represents excellent upside potential.