Updated 23 days ago
Off Market
4 Rooms2 Beds2 Baths1,000 Square FeetCondo
$2,250,000
Common Charges$1,745
RE Taxes$1,911
Price Per SF
$2,250
Listing Features
- Abundant Closets
- Duplex
- Hardwood Floors
- High Ceilings [14']
- Home Office
- Recessed Lighting
- Separate Dining Area
- Sleeping Loft
- Walk-in Closet
- Washer / Dryer
- Noise Abate Wdws
- Oversized Windows
- Dishwasher
- Gourmet Kitchen
- Microwave
- Open Kitchen
- S Steel Appliances
- En Suite Bathroom
- Marble Bathroom
- Soaking Tub
Outdoor space and views
- City Views
- South Exposure
Building Amenities
- Full Service
- Bike Storage
- Courtyard
- Elevator
- Garage
- Garden
- Health Club
- Laundry Room
- Playroom
- Pool
- Renovated Lobby
- Resident Lounge
- Roof Deck
- Storage
Policies
- Pets Allowed
- Pieds A Terre Ok
Property Description for 120 East 87th Street, R-14F
Investors Only! Tenant in place through October 2027. Current cap rate 3.8%.
All showings by appointment with 24-hour advance notice.
The Opportunity
A rare opportunity to acquire a fully renovated, income-producing luxury condominium in one of Manhattan's premier white-glove buildings. 120 East 87th Street, Unit R14F is being offered with a high-quality tenant in place through October 2027, delivering immediate cash flow with no leasing risk or vacancy exposure.
Currently generating an approximate 3.8% cap rate, the investment offers both stability and built-in growth. The existing lease steps to $10,750/month in November 2026, with current market rents for similar residences achieving approximately $11,500/month, presenting additional upside at renewal. This is a turnkey acquisition with income from day one, a near-term increase already secured, and future appreciation potential.
The Apartment
Meticulously renovated to an uncompromising standard, this 2-bedroom, 2-bathroom home features soaring 14-foot ceilings, southern exposure, and exceptional natural light throughout.
The expansive living and entertaining space is defined by large soundproof windows with electric shades, white oak hardwood floors, recessed lighting, and bespoke custom finishes.
The open chef's kitchen is thoughtfully designed with Bosch stainless steel appliances, a 5-burner gas range, Caesarstone countertops, a Kraus deep sink, custom floor-to-ceiling cabinetry, and a striking blue agate quartz backsplash with integrated LED lighting.
The primary suite offers generous proportions, a large walk-in closet, and a spa-quality en-suite bath with premium fixtures, designer tilework, a soaking tub with shower, and a washer/dryer. The second bedroom is well-scaled with custom built-ins and access to a fully renovated second bathroom finished to the same high standard.
A glass-enclosed staircase leads to an approximately 400-square-foot upper-level bonus space, ideal for a home office, media room, or flexible use, with additional storage throughout (not included in the stated square footage).
The Building
Located within Park Avenue Court, one of the Upper East Side's most sought-after full-service condominiums, residents enjoy a comprehensive suite of luxury amenities including an indoor swimming pool, fully equipped gym, yoga room and children's playroom.
The Location
Set in the heart of Carnegie Hill, this address offers timeless appeal and enduring value. Tree-lined streets, cultural institutions, and premier conveniences define the neighborhood.
Contact us today for a tour of this exceptional property.
All showings by appointment with 24-hour advance notice.
The Opportunity
A rare opportunity to acquire a fully renovated, income-producing luxury condominium in one of Manhattan's premier white-glove buildings. 120 East 87th Street, Unit R14F is being offered with a high-quality tenant in place through October 2027, delivering immediate cash flow with no leasing risk or vacancy exposure.
Currently generating an approximate 3.8% cap rate, the investment offers both stability and built-in growth. The existing lease steps to $10,750/month in November 2026, with current market rents for similar residences achieving approximately $11,500/month, presenting additional upside at renewal. This is a turnkey acquisition with income from day one, a near-term increase already secured, and future appreciation potential.
The Apartment
Meticulously renovated to an uncompromising standard, this 2-bedroom, 2-bathroom home features soaring 14-foot ceilings, southern exposure, and exceptional natural light throughout.
The expansive living and entertaining space is defined by large soundproof windows with electric shades, white oak hardwood floors, recessed lighting, and bespoke custom finishes.
The open chef's kitchen is thoughtfully designed with Bosch stainless steel appliances, a 5-burner gas range, Caesarstone countertops, a Kraus deep sink, custom floor-to-ceiling cabinetry, and a striking blue agate quartz backsplash with integrated LED lighting.
The primary suite offers generous proportions, a large walk-in closet, and a spa-quality en-suite bath with premium fixtures, designer tilework, a soaking tub with shower, and a washer/dryer. The second bedroom is well-scaled with custom built-ins and access to a fully renovated second bathroom finished to the same high standard.
A glass-enclosed staircase leads to an approximately 400-square-foot upper-level bonus space, ideal for a home office, media room, or flexible use, with additional storage throughout (not included in the stated square footage).
The Building
Located within Park Avenue Court, one of the Upper East Side's most sought-after full-service condominiums, residents enjoy a comprehensive suite of luxury amenities including an indoor swimming pool, fully equipped gym, yoga room and children's playroom.
The Location
Set in the heart of Carnegie Hill, this address offers timeless appeal and enduring value. Tree-lined streets, cultural institutions, and premier conveniences define the neighborhood.
Contact us today for a tour of this exceptional property.
Listing History for 120 East 87th Street, R-14F
Now
07/31/2026
TOM by Jackie Siegel
Brown Harris Stevens
05/01/2026
$2,250,000
Initial Price by Jackie Siegel
Brown Harris Stevens
Building Details for 120 East 87th Street
OwnershipCondo
Building TypeHigh-Rise
Service LevelFull Service
AgePost-War
AccessElevator
Year Built1990
Financing Allowed90%
Floors/Apts24/223
Transit and Citi Bike
Subway
86 St
0.04 miles
86 St
0.25 miles
96 St
0.46 miles
77 St
0.5 miles
Citi Bike
E 88 St & Park Ave
0.09 miles
E 84 St & Park Ave
0.15 miles
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: 472397
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