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Listing Courtesy of Douglas Elliman Real Estate
$ 12,750,000
Est. payment | /mo
6 Beds
8 Baths
$ 12,750,000
Est. payment | /mo
6 Beds
8 Baths
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Lenox Hill
MLS Listing ID RLS20110357
Bedrooms 6
Full Baths 7
Half Baths 1
HOA Y/N No
Year Built 1910
Annual Tax Amount $121,704
Property Sub-Type Mixed Use
Property Description
860 Lexington Avenue - Prime Upper East Side Investment Opportunity Exceptional opportunity to acquire a fully renovated mixed-use building in the heart of Lenox Hill, ideally located on the West Side of Lexington Avenue between East 64th and 65th Streets. The property offers approximately 6,260 SF above grade, PLUS a finished commercial basement leased to the same long-standing retail tenant. The Certificate of Occupancy recognizes the basement for commercial/store use, providing additional usable, income-producing space beyond the 6,260 SF stated building area. The building combines strong commercial and luxury residential income, offering an approximately 4.8% pro-forma cap rate at the asking price. The property is anchored by a long-standing retail tenant with leases through 2032, contractual rent increases and real-estate-tax escalation provisions-providing stable income with built-in growth. The residential component consists of two beautifully renovated residences, including a 2 bedroom, 2 bathroom home with private outdoor space and an impressive 4 bedroom, 3.5 bathroom upper duplex penthouse with an approximately 600 SF private roof-deck terrace. A rare combination of prime Upper East Side location, attractive yield, long-term commercial tenancy, luxury residential space and fully renovated condition-an outstanding Manhattan investment opportunity.
Location
State NY
County New York
Rooms
Basement Other
Interior
Interior Features Smoke Free
Cooling Ductless
Fireplace No
Appliance Washer Dryer Allowed
Laundry Building Other, Washer Hookup, In Unit
Exterior
Exterior Feature Private Outdoor Space Over 60 Sqft
Pool Building None
View Y/N Yes
View Other
Porch None
Private Pool Yes
Building
Dwelling Type Mixed Use
Story 5
New Construction No
Others
Ownership None
Monthly Total Fees $10, 142
Special Listing Condition Standard
Pets Allowed Building Yes, No
RLS Data display by WJFNY