Investment Overview

THE OFFERING Marcus & Millichap proudly presents 324 East 90th Street, a remarkable investment opportunity in the heart of the Upper East Side. Positioned on a pristine block located between 1st and 2nd Avenue, this building boasts 10 units and spans an approximate area of 9,500 square feet. The building is 25’ x 77’ and sits on a 25’ x 100.67’ lot (Block: 1552, Lot: 37). The property is zoned R8B. THE OPPORTUNITY The Opportunity: Offered at an attractive asking price of $5,600,000, 324 East 90th Street presents an enticing investment with promising in-place cash flow with an ability to add value long-term. Of the 10 units, 7 are free market, 1 is rent-stabilized, and 2 are rent-controlled. The property offers a mix of 3 one-bedroom and 7 three-bedroom apartments. Tax Class Protection: This property boasts a classification of utmost significance – Tax Class 2B. Under the Tax Class 2B classification, this property benefits from a highly advantageous tax structure. Specifically, the property's tax obligations are safeguarded by a stringent framework that restricts annual tax escalations to a maximum of 8%. Furthermore, this protection extends over a five-year span, ensuring that tax increments do not surpass 30% within any given 5-year period. This prudent taxation strategy serves as a formidable shield against substantial tax liability expansion, offering a sense of stability and financial assurance to property owners. High End Finishes: Elevating the stature of this property are its opulent interiors. Each free-market unit within the building is adorned with marble bathrooms, tastefully elevated ceilings, granite tile kitchen floors that exude sophistication, and a suite of modern stainless-steel appliances, including a dishwasher and microwave. The expansive living spaces are graced with the warmth of hardwood floors. These exquisite finishes not only underscore the property's commitment to luxurious living but also epitomize a standard that enhances the overall living experience. Strategic Location: Nestled within the prestigious enclave of the Upper East Side, 324 East 90th Street enjoys a vantage point of timeless elegance and allure. Its idyllic setting is further complemented by the neighboring boutique pre-war structures that exude an air of grace along a serene, tree-lined block. Surrounded by coveted retail establishments, acclaimed restaurants, and seamless transportation options encircles this property, creating a tapestry of convenience and luxury. This coveted address stands in proximity to prominent landmarks such as the illustrious Gracie Mansion, the verdant Carl Shulz Park, and the world-renowned Solomon R. Guggenheim Museum. Residents of this address find themselves effortlessly linked to the 86th Street Subway Station, an array of esteemed medical facilities, distinguished educational institutions, places of worship, and a diverse selection of shopping destinations. This strategic positioning not only enhances the property's appeal but also grants its inhabitants unparalleled access to a rich tapestry of cultural, educational, and lifestyle amenities.