784-786 Lexington Avenue, New York, NY 10065

Upper East Side, Midtown East, New York, New York 10065

$25,000,000   $22,500,000  

Listing ID Number


Property Description

Cushman & Wakefield has been retained exclusively to arrange for the sale of two mixed-use sites each consisting of two (2) buildings (four buildings total) at 1020-1024 THIRD AVENUE and 784-786 LEXINGTON AVENUE. The retail driven, mixed-use properties are on the border of Midtown East and the Upper East Side. They combine for a total of six (6) commercial units and 35 residential apartments across approx. 27,968 SF. They also feature over approx. 49,000 SF of air rights for a total buildable square footage of approx. 77,000. Both sites benefit from in-place established retail tenants and the possibility of future development given the prime avenue locations and intact air rights.

-Ten (10) free market residential apartments.
-Three (3) commercial units.
-Ground floor retail tenants include Baked by Melissa, and Sweetgreen.
-The 10 apartments are below market studios (3) and one-bedrooms (7).
-Verizon operates cell antennas on the roof providing additional income.

Combined these properties present the incredible opportunity to acquire prime cash-flowing assets with immediate value-add by leasing-up the commercial and improving residential rents. The properties are adjacent a development site that sold for over $1,000/BSF and hold long-term development and assemblage potential.


Building Type:Apartment Buildings, Commercial Buildings, Development/Conversion Sites, Mixed-Use Investment Buildings, Mixed-Use User Buildings
Location:Southwest corner of Lexington Avenue & East 61st Street
Lot Dimensions:40.42' x 65'
Buildable Sq. Ft:23,643
Building Sq Ft:8,593



For further information or inspection, please contact Exclusive Agents:

Clint B. Olsen
Executive Managing Director
(212) 660 7747

Guthrie Garvin
Executive Managing Director
(212) 660 7786

William Conrad
(212) 660 7740

Michael Gembecki
(212) 660 7743

Alexander Ball
(212) 660-7715

Albert Mamiye

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Aerial View

The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.