133 E 35th St

Cushman & Wakefield has been exclusively retained to sell 133 East 35th Street, a 6-unit, 20’ wide walkup apartment building with 5 free market apartments and 1 rent stabilized unit. The property is located on the north side of one of the most desirable tree-lined townhouse blocks, East 35th Street between Park and Lexington Avenues in the Murray Hill Historic District.
The building is approximately 5,000± SF and has been recently renovated and well-maintained. The building is comprised of a ground floor 3-bed/2-bath unit that j ust completed a complete gut renovation and has a l arge private backyard garden. The second and third floors feature floor-through 4-bed/2-bath apartments. The fourth floor has two 1-bed/2- bath units. The top floor has a 3-bed/2-bath unit. The apartments feature spacious bedrooms, tall ceilings, lots of natural light, hardwood floors, in unit washers/dryers, exposed brick, individual thermostats where tenants control and pay for their own heat and a video intercom security system for the front door.
The building is 100% occupied offering investors a cash flowing turnkey asset with future upside on lease renewals. The property benefits from its tax class protected 2B status where NYC cannot raise the taxes each year by more than 8% from the year prior, or 30% over five years. Many of the neighboring townhouses have been converted to or are single family homes that can sell for well north of $1,500 per square foot and can also appeal to institutions and foreign governments given its close proximity to the United Nations and Midtown. The property is zoned R10 and has approximately 9,810 square feet of unused air-rights.