145 E 62nd St, # 147

Douglas Elliman has been retained on an exclusive basis to arrange the sale of 145-147 East 62nd Street located on the north side of 62nd Street between Lexington and Third Avenue. The property is currently 5 stories plus basement, 27.5 feet wide, and approximately 7,010 square feet. The property consists of two commercial tenants on month-to-month leases and 6 residential apartments, 1 of which is vacant and 5 of which are Rent Stabilized. The expected annual rent is $232,168. The building sits on a 27.5' x 91' lot, is located in a C1-8X, R8B Zone (Residential FAR 9.0 and Commercial FAR 2.0) and has approximately 6,382 square feet of development rights remaining. The property is neither Landmarked nor located in a Historic District.<br><br>Located at the southernmost part of the Upper East Side and only moments to Midtown, Lenox Hill has established itself as a go to stop for development as demand significantly outpaces supply. 145-147 East 62nd Street is appropriately positioned to attract the highest level of interest from condo residents as it is steps to the 456 and NQR trains, a short walk to Central Park and perfectly placed west of third avenue in the heart of the Upper East Side's most fantastic shopping and nightlight including the designer boutiques and bustling café's on Madison Avenue. Furthermore, a recent influx of high end condo developments at an excess of $3500psf has primed the area for significant price appreciation with 145 East 62nd Street at its epicenter.<br><br>This is a great opportunity for a user, investor or 1031 exchange buyer to acquire a prime mixed use asset situated in one of the most sought after locations in the world.