Investment Overview

THE OFFERING Marcus & Millichap is pleased to offer 315 East 90th Street located in the heart of Yorkville, just steps from Ruppert Park. This 10-unit property is located on the North side of 90th Street between 1st Avenue and 2nd Avenue and spans 8,950 square feet. The building is 25’ x 72’ and sits on a 25’ x 102.17’ lot. The property is zoned R8B and is Tax Class Protected: 2B. THE OPPORTUNITY Building Overview: This 5-story, walk-up building with 25 feet of frontage contains 10 total residential units. All 10 units are 2-bedroom apartments, 7 of which will be delivered vacant upon purchase. 60% of the units are deregulated as of today. Being offered for sale for the first time in over 30 years, this type of asset rarely trades hands. Untapped Potential & Upside: With 70% of the building being delivered vacant, an investor will have the freedom to implement a variety of investment strategies. Given the low number of remaining occupied units, this building is also a strong candidate for substantial rehabilitation. Using this strategy, there is realistic opportunity to obtain a fully free market building upon turnover, achieving market rents at an attractive basis. Strategic Location: The building is positioned in one of Manhattan’s most coveted and desirable neighborhoods, surrounded by single family homes, world-renowned restaurants, art museums, parks, and easy transportation. The property sits just a 10 minute walk away from the 86th Street subway station, featuring the 4,5, & 6 lines, and a 5 minute walk from the Q train. Notable locations nearby include Ruppert Park, the Solomon R. Guggenheim Museum, Milano Market, Asphalt Green, and The Metropolitan Museum of Art. Tax Class Protected: 315 East 90th Street falls in the Tax Class Protected status: 2B. By law, taxes cannot be increased by more than 8% year over year or 30% over any given 5-year period, making it an ideal hedge against rising taxes.