116 East 37th Street

The property is located at 116 East 37th Street between Lexington and Park Avenues. The building has an approximate gross square footage of 6,800 and is built approximately 20 by 68 feet deep. The property sits on a 20 by 99 foot lot (Block: 00892-0075). The asset is zoned R8B and features an additional 1,841 square feet of air rights. The subject property is a 20 foot wide, 5 story walk up buildings consisting of 8 free market units. With all free market apartments, the property poses as a prime candidate for a single family conversion or live plus income opportunity. Located on a wonderful tree-lined block between Lexington and Park Avenues, the building features an approximately 600 square foot south facing garden. For live plus income investors, the property is in the attractive tax class 2B bracket,which prevents taxes from being raised more than 8% a year. The property resides on a quiet residential block, yet is conveniently located steps away from Grand Central, making it an ideal location for a potential user.