Asking Price
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1920
Building Area
Land Area ()

Property Description

JLL has been retained on an exclusive basis to arrange for the sale of 924 Third Avenue, a 5 story, mixed-use building on the West side of Third Avenue between East 55th and 56th Street. The building currently has 1 vacant retail space and 8 apartments comprised of 6 free market and 2 rent stabilized units.


The property’s location with direct access to the 4567E & M trains as well as being surrounded by Bloomberg’s headquarters, Bloomingdales and the Lipstick Building, is highly desirable. This premium location paired with the potential for a future development assemblage inside the new Midtown East rezoning, creates an incredible investment opportunity.

Investment Highlights

924 Third Avenue has been under the same ownership for generations and is a key assemblage piece in what is a large-scale development opportunity in the heart of Midtown. With a total of 36,625 BSF approx., the development opportunity is highlighted and possibly expedited by the already consolidated ownership of the surrounding properties. In the meantime, the core office and retail location affords investors the ability to create and receive exceptional income and yield.

Last Updated Date: 18 Nov 2020
Bob Knakal
Bob Knakal
Chairman, NY Investment Sales, New York Office Co-Head
License details
NY-10311207925
Clint Olsen
Clint Olsen
Managing Director, Capital Markets
License details
NY-10301212298

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Last Updated Date: 18 Nov 2020

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