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2283 Third Avenue

$34,500,000

2283 Third Avenue, New York, NY 10035

Active
Last Updated: 11/03/2022

50,908 sqft

Building Size

A

Class

Details:
Building Size:    50,908 sqft
Class:    A
Units:    20
Highlights:
  • Corner asset with 180 ft of wraparound frontage along 3rd Avenue and East 124th Street
  • Long term leases provide stable cashflow
  • Relatively new construction (2007)
  • 70% of income from New York College of Podiatric Medicine
  • Tenant mix that services the neighborhood
  • Close proximity to the 4,5,6 at Lexington Avenue Station and the 2,3
  • Phase II of the 2nd Avenue subway is approved – will service 106th, 116th and 125th Streets
Description:

Avison Young has been engaged by Ownership to offer for sale 2283 Third Avenue (the “Property), a seven-story mixed-use building situated in the East Harlem neighborhood of Upper Manhattan. Located on the east side of 3rd Avenue between East 124th Street and Martin Luther King Jr. Blvd, the Property spans 50,908  gross square feet with approximately 180 feet of wraparound frontage. The Property benefits from a 25-year 421a Abatement that expires in 2033.

East Harlem - Manhattan - New York

Map:
Documents:
Title
2283_Third_Avenue_Flyer_2.17.2022.pdf
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Today's Available Mortgage Rates

2283 Third Avenue, New York, New York 10035

Choose Your Priority
 
Interest Rate
Mo. Payments
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default.
Loan Amount
Rates as of 05/30/2025
Bank*Lender #347
5 Year Fixed
25 Year Amortization
Interest rate 6.37% 5 Year Fixed
Mo. Payment$110,473 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 48% LTV $0 Lender fees
Loan Amount $16,560,000 Loan Amount
Bank*Lender #347
7 Year Fixed
25 Year Amortization
Interest rate 6.37% 7 Year Fixed
Mo. Payment$110,473 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 48% LTV $0 Lender fees
Loan Amount $16,560,000 Loan Amount
Life*Lender #622
30 Years Fully Amortized Year Fixed
30 Year Amortization
Interest rate 6.06% 30 Years Fully Amortized Year Fixed
Mo. Payment$114,498 30 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 55% LTV $30,000 Lender fees
Loan Amount $18,975,000 Loan Amount
Largest Commercial Real Estate Lending
Location