- For Sale $2,300,000
- Property Type Multi-Family
- Property Size 7,328 SF
- Units 10
- Lot Size 2,851 SF
- # of Floors 4
- Date Updated Sep 29, 2022
Ariel Property Advisors has been retained on an exclusive basis to arrange the sale
of 159 East 106th Street, a 28’ wide, 7,328 SF, 4-story walk-up building located on
the north side of East 106th Street between Lexington Avenue and Third Avenue.
The subject property contains 8 residential units and is in the process of being
converted to 10 units. Once completed, the new unit mix will consist of 6 two-bedroom
apartments, 2 one-bedroom apartments, and 2 studio apartments. Of
these apartments, there will be 7 rent-stabilized, 1 rent-controlled, and 2 freemarket
units. The 2 one-bedroom and 2 studio units are being converted from
two existing two-bedroom units that are rent stabilized. Their new rent levels will
be at market, but will remain rent-stabilized.
159 East 106th Street is conveniently located only 3 blocks away from the
Central Park and 10 blocks away from Upper East Side. The subject property is
also in close proximity to several major recent residential developments such
as the Sendero Verde at 1691 Madison, the Huxley at 181 East 101st Street, and
Atlantic Development project located at 1998 Second Avenue. High-performing
condominium projects such as North Park Tower at 1399 Park Avenue, and the
Cereza at 1790 Third Avenue is also in direct vicinity.
Quick access to lower Manhattan and the outer boroughs is provided by the
6-train subway station situated just 3 blocks away on East 103rd Street and
Lexington Avenue, or by car along FDR Drive. Access to the greater metropolitan
area is provided by the Metro-North railroad station on East 125th Street and
Park Avenue. The asset is also well positioned to benefit from ongoing subway
expansion along the 2nd Avenue corridor.
159 East 106th Street presents investors with a unique opportunity to acquire
a cash-flowing asset with rental upside and protected tax class, in a rapidly
appreciating neighborhood of Northern Manhattan.
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Contacts
Location
Getting Around
-
Walk Score ®
89/100
Very Walkable
-
Transit Score ®
100/100
Rider's Paradise
-
Bike Score ®
70/100
Very Bikeable
- City New York, NY
- Neighborhood Central Park
- Zip Code 10029
Points of Interest
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East 103rd Street & Lexington Avenue at Southwest Corner
0.36 miles
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103rd Street
0.37 miles
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East 103rd Street & Lexington Avenue at Southeast Corner
0.37 miles
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St Nicholas Ave & Central Park North At Nw Corner
0.44 miles
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Central Park North–110th Street
0.45 miles
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East 96th Street & Lexington Avenue at Northwest Corner
0.45 miles
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East 96th Street & Lexington Avenue at Southwest Corner
0.46 miles
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103rd Street
0.47 miles
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96th Street
0.47 miles
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East 96th Street & Lexington Avenue at Northeast Corner
0.47 miles
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Shell
0.38 miles
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Mobil
0.74 miles
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ChargePoint
0.87 miles
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Mobil
1.05 miles
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Shell
1.08 miles
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BP
1.15 miles
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ChargePoint
1.21 miles
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plugNYC
1.26 miles
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Shell
1.28 miles
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BP
1.31 miles
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Mount Sinai
0.29 miles
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MPG
0.39 miles
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Astor Terrace Parking Garage
0.70 miles
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Knickerbocker Plaza Car Park
0.76 miles
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Quik Park
0.81 miles
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Edison ParkFast
0.89 miles
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Metropolitan Museum
1.11 miles
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East River Plaza Garage
1.20 miles
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Surrey Garage
1.50 miles
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Pyramid Garage
1.52 miles
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Park View Hotel
0.44 miles
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Astor on the Park
0.54 miles
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Central Park Inn
0.54 miles
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Jazz on the Park
0.55 miles
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House ZAZA
0.69 miles
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Hostelling International New York City
0.79 miles
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L-Hostels
0.84 miles
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Hotel Marrakech
0.87 miles
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The Franklin
0.87 miles
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HOME
0.90 miles
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Caribbean Fiesta
0.20 miles
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Bawarchi Indian Cuisine
0.21 miles
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JuicCToo
0.21 miles
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King Dragon
0.21 miles
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Tre Otto
0.27 miles
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Thai Paragon
0.28 miles
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Yoan Ming Garden
0.28 miles
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Famous Famiglia Pizzeria
0.30 miles
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Dunkin'
0.31 miles
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Subway
0.31 miles
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Public School 171
0.15 miles
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Saint Bernard's School
0.24 miles
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Junior High School 13
0.30 miles
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Central Park East Secondary School
0.31 miles
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La Scuola d'Italia Guglielmo Marconi
0.34 miles
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Northside Center Day School
0.46 miles
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Public School 170
0.48 miles
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Public School 185 Early Childhood Discovery and Design
0.49 miles
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Public School 208
0.49 miles
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Spence Lower School
0.50 miles
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Playhouse Prep
0.36 miles
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Sunshine Learning Center
0.37 miles
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Friends & Family Daycare
0.40 miles
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Preschool of America
0.45 miles
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Park West Montessori School
0.48 miles
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Arc En Ciel
0.65 miles
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Upper Valley Preschool
0.72 miles
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Purple Circle Early Childhood Program
0.91 miles
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NY Kids Club
0.97 miles
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Spot Daycare
1.21 miles
Frequently Asked Questions
What is the lease rate for 159 East 106th St.?
Rental asking rate at 159 East 106th St. is $1,150,000.00/YR.
What is the total square footage of 159 East 106th St.?
159 East 106th St. totals 7,328 square feet.
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