77 Lexington Avenue

Gramercy prime location mixed-use 4-story, 6120 SF building with full cellar for sale at the corner of Lexington Avenue and 26th street. The building will be delivered vacant. The first floor features two commercial spaces previously used as restaurants. The second floor is a rare 3 bedroom, 2 bathroom rental unit with a recently upgraded kitchen and the third and fourth floors each contain two 1 BR/1BA apartments. All units pay their own gas and electricity directly to Con Edison. Located a block from the iconic New York Life building near Madison Park, the area straddles the Gramercy Park, "NoMad" and Kips Bay neighborhoods of Manhattan, in a location with a vibrant restaurant scene and extensive foot traffic from many office buildings. A new luxury condominium renovation, "88 & 90 Lex" is nearing completion across the street. 77 Lexington Avenue is located one block from the Baruch College pedestrian mall and short blocks from the Lexington Avenue subway. Demand for rental housing in the neighborhood has never been stronger and the corner location is sure to attract some of the multitude of pedestrians who frequent the area every day. This is the perfect time to seize this unique investment opportunity! Lot size: 24'67 X 62; Lot area: 1531 SF; Total existing SF: 6120SF. Zoning: C6-2A/R8A; Additional air rights 3090 SF; Taxes: $89000/year (2015/2016). Projected Income $380,000. Total Projected Expenses $109,000. Contact us for a private showing.