$17,400,000
Updated 10 years ago
Off Market

341-343 East 65th Street

Upper East Side, Manhattan | Second Ave & First Ave

Income Property

$17,400,000
floors / apts5 / 40
Building TypeLow-Rise

Building Amenities

  • Voice Intercom

Property Description for 341-343 East 65th Street

The subject properties are two contiguous five-story walkup buildings located on the north side of East 65th Street between First and Second Avenue, just two blocks away from Memorial Sloan Kettering Cancer Center. The buildings are configured as 40 one -bedroom apartments, 28 of which are rent stabilized, 8 free market, 2 super’s units and 2 rent controlled. The rents are currently averaging approximately $39/SF or $1,652/month in a market that could be achieving approximately $70/SF or $2,543/month. The property is located in the heart of the Upper East Side, known for its superior health care institutions, and is also within short walking distance to the 68th and 59th Street stations, as well as the 72nd Street stop on the Second Avenue Subway in the near future. This portion of the neighborhood is seeing high demand due to the future Second Avenue Subway and is an ideal opportunity for an investor or converter.

Listing History for 341-343 East 65th Street

Now
07/27/2016
POM by Guthrie Garvin
Cushman & Wakefield
02/29/2016
$17,400,000
Initial Price by Guthrie Garvin
Cushman & Wakefield

Building Details for 341-343 East 65th Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts5/40
Learn More About the Building

Transit and Citi Bike

Subway

Lexington Av/63 St
0.34 miles
72 St
0.35 miles
68 St-Hunter College
0.37 miles
Lexington Av/59 St
0.4 miles
59 St
0.44 miles

Citi Bike

1 Ave & E 68 St
0.12 miles
E 65 St & 2 Ave
0.14 miles

Contact Agents

Contact Agents

Guthrie Garvin
Cushman & Wakefield
Michael Gembecki
Cushman & Wakefield

Upper East Side | Manhattan

Quick Profile

Exuding a cosmopolitan, refined air that is reminiscent of Paris or other European cities, the Upper East Side (the UES, to local cognoscenti) has a reputation as being a bastion of wealth and privilege. Even though it was built by American “royalty” families like the Vanderbilts, Roosevelts, Kennedys, Carnegies and Rockefellers, whose elaborate mansions once anchored Fifth Avenue, there are affordable housing options throughout the neighborhood. The further east you move, away from Central Park and the more commercial avenues, the more likely you are to find quiet, tree-lined streets with historic townhouses and brownstones. Keep your eye out for reasonably priced apartments in pre-war low-rise and even a few high-rise buildings.

With abundant, beautifully landscaped green spaces, including the oasis of Central Park acting like a backyard, the area is quiet and lushly green. You can relax and unwind in John Jay Park, Carl Schurz Park or take a stroll along the East River Promenade. The whole neighborhood seems isolated from the workaday chaos of the city at large. Add to that the history of the neighborhood and the abundance of cultural institutions, and you have a uniquely welcoming neighborhood.

Known for its abundance of high-end retail shopping, especially on Madison Avenue, the Upper East Side is host to the Barneys New York flagship department store. Here you can find upscale goods, fashion and home decor items. You will also find the edgy runway-inspired Alexander McQueen collections. If you are dying to treat your feet to red-soled opulence, be sure to visit the Christian Louboutin boutique. These are only a small sampling of this high-end shopper’s paradise that features everything from designer boutiques that offer the ultimate in haute couture to resale shops where you can find last season’s best on sale at hefty discounts .

There are many unique dining experiences, from fine dining to the casual bite-on-the-go, awaiting you in the UES. Sushi is going through a renaissance in the city, and the best omakase-style sushi can be found at Sasabune on E 73rd Street. Omakase sushi means that you leave the choice of ingredients, preparation method and presentation to the chef. Elegant French cuisine can be experienced at JoJo, E 64th Street, housed in gorgeous townhouse. Just for fun, visit the Lexington Candy Shop on Lexington Avenue, to get a taste of an old-fashioned soda fountain.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 63334TH