Investment Overview

THE OFFERING Marcus & Millichap is pleased to exclusively offer for sale 448 East 88th Street, located in the Yorkville neighborhood. Located on the North side of 88th Street between First Avenue and York Avenue, this 25 unit multifamily property is comprised of approximately 16,244 square feet with 40’ of frontage. This property sits on a 40’x100.67’ lot (Block: 1568 and Lot: 18) and is built 84’ deep. The property is zoned R8B. THE OPPORTUNITY Building Overview: This 6-story multifamily building features 40 feet of frontage on East 88th Street and contains 25 large, residential apartments. The unit mix consists of 12 two-bedroom apartments, 11 three-bedroom apartments, and 2 four-bedroom apartments. The building is Tax Class 2. Newly Renovated with High End Finishes: All apartments have been renovated in recent years with high end finishes including imported white oak flooring, custom kitchen millwork, contemporary European stainless-steel appliances, in-unit washer/dryers, and spacious built-in closets. Residents benefit from the convenience of an intercom system for secure and efficient access. Additionally, the building benefits from having light and air on all sides since none of the adjacent properties are built touching 443 East 88th Street. 100% Free Market Status: This opportunity is 100% Free Market, giving potential buyers future rental upside and flexibility. Due to the free market status of all apartments, a buyer can feel comfortable knowing that they do not need take on burdensome management of rent regulated apartments. Strong Location: The building sits in the heart of Yorkville situated on a residential block surrounded by a seamless supply of restaurants, retail, museums, and local transportation.