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520 East 88th St., New York, NY 10128

$7,200,000
Active Listing
Listing Details:
$7,200,000 Price
Single-Family Townhouse Property Type
Yorkville Neighborhood
17 Beds
17 Baths
10,785 Approx. Sq. Ft.
$10,906 RET
Key Features:
Prewar
Allows Pets
Description:

Compass has been retained on an exclusive basis to facilitate the sale of 520 E. 88th Street in the Upper East Side, a beautiful building only steps from Gracie Mansion, Carl Shulz Park, and the East River. 520 E. 88th features over 10,000 usable square feet and is composed of 17 units, 16 of which are free-market. This well-maintained building has undergone regular renovations whenever there was a vacant unit and has over $400k of existing income with one vacant unit. The rents are under-market since Covid and will go up 5-10% without any work. With minimal work such as duplexing the first floor or permitting the roof, a more substantial increase would be possible. Additionally, an investor could undergo more major renovation and convert these units into condos for a quick return in one of NYC's most esteemed areas.

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Listing courtesy of Compass

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