Investment Overview

This offering represents a rare opportunity to acquire a scale portfolio in a high-demand Manhattan submarket, with tax protection, retail upside, and value-add potential. 714-720 Tenth Avenue contains four contiguous four-story mixed-use buildings consisting of twelve full-floor market apartments and five retail units. Zoned R8, C2-5, the portfolio is located at the northeast corner of 49th street and 10th Ave. (Block and Lots: 1059-1,2,102,3) Each lot dimension is 20 ft. by 64 ft. The ground floor at 714, 718 and 720 10th Ave. are built full to the lot line while 716 10th Ave is built 20 ft. by 50 ft. All residential units are built 20.08 ft. by 50 ft. There are over 15,000 Sf of additional air-rights associated with the portfolio. 718 & 720 10th Ave. had a complete gut renovation in 1995-1996 and are all electric. Each apartment is independent with its own hot water heater and heating and cooling units. The buildings do not have a boiler or central hot water tank. Tenants each pay for their own utilities. New water mains were also installed at that time. Current backflow preventers and RPZ values are in both buildings. Buildings are partially sprinklered. Roofs are maintained and in excellent condition. The property is steps from Times Square, the Jacob Javits Center and the Port Authority Bus Terminal which includes access to the A, C and E subway lines. This opportunity is also located on the border of the city’s new Hudson Yards transformation, which is in the process of developing over 13 million square feet of commercial, residential and communal developments. Positioned in one of NYC’s most vibrant neighborhoods, 714–720 Tenth Avenue is ideal for investors seeking long-term growth and stability. 714-716 10th Ave. may be sold separately from 718-720 10th Ave. Reach out to the team for price guidance and tour scheduling.