6-Story, 30-Unit Mixed-Use Building

Description:

Ariel Property Advisors has been retained on an exclusive basis to arrange the sale of 88 East 111th Street, a 48’ wide, 19,884 SF, 6-story mixed-use walk-up building located on the south side of East 111th Street between Madison Avenue and Park Avenue in East Harlem.

The subject property contains 28 residential units and 2 commercial units, with the residential unit mix consisting of 5 one-bedroom apartments, 13 two-bedroom apartments, and 10 three-bedroom apartments. Of the 28 residential units, 5 apartments are of free market status and 23 are rent-stabilized.

88 East 111th Street is located in a rapidly expanding neighborhood with several major developments underway. Sendero Verde, a planned 698-unit mixed-use housing complex featuring a YMCA and healthcare center, is situated directly across the street. The historic Corn Exchange Building was recently revitalized and the 140,000 SF state-of-the-art New York Proton Center opened in June of 2019. The subject property enjoys convenient access to lower Manhattan and the outer boroughs via the 6 train subway station, which is one block away on East 110th and Lexington Avenue, in addition to easy access to the greater metropolitan area via the Metro-North railroad station on East 125th Street and Park Avenue.

88 East 111th Street presents investors with the opportunity to acquire a well-maintained mixed-use property of considerable scale in an appreciating neighborhood of Northern Manhattan. For more information, please contact the exclusive sales agents listed below.

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