860 Lexington Avenue - Prime Upper East Side Investment Opportunity Exceptional opportunity to acquire a fully renovated mixed-use building in the heart of Lenox Hill, ideally located on the West Side of Lexington Avenue between East 64th and 65th Streets. The property offers approximately 6,260 SF… Read More above grade, PLUS a finished commercial basement leased to the same long-standing retail tenant. The Certificate of Occupancy recognizes the basement for commercial/store use, providing additional usable, income-producing space beyond the 6,260 SF stated building area. The building combines strong commercial and luxury residential income, offering an approximately 4.8% pro-forma cap rate at the asking price. The property is anchored by a long-standing retail tenant with leases through 2032, contractual rent increases and real-estate-tax escalation provisions-providing stable income with built-in growth. The residential component consists of two beautifully renovated residences, including a 2 bedroom, 2 bathroom home with private outdoor space and an impressive 4 bedroom, 3.5 bathroom upper duplex penthouse with an approximately 600 SF private roof-deck terrace. A rare combination of prime Upper East Side location, attractive yield, long-term commercial tenancy, luxury residential space and fully renovated condition-an outstanding Manhattan investment opportunity. Read Less
Listing Courtesy of: Istvan Ritz, Douglas Elliman Real Estate
Listing Snapshot
Days Online
1
Last Updated
Property Type
MixedUse
Beds
6
Full Baths
7
Partial Baths
1
Square Ft.
1,280
Lot Size
0.03 Acres
Year Built
1910
MLS Number
RLS20110357
Additional Details
Building
Entry Level: 1, Features: GreenBuilding, Living Area Units: SquareFeet, Rooms Total: 20, Structure Type: MixedUse
Exterior Features
Patio And Porch Features: None
Interior Features
Interior Features: SmokeFree
Property
Property Sub Type: MixedUse, View YN: t, View: Other
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