Asking Price
Sq. Footage 30,000
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 2019

Property Description

30,645 rentable square foot retail condominium situated at the base of the newly developed Hayworth, a 21-story, 61-unit, fully amenitized luxury condominium building. The modern glass Property with 17’2” ceiling heights on the ground floor and efficient floor plans is located on the irreplaceable corner of 86th Street and Lexington Avenue in the heart of Manhattan’s affluent Upper East Side neighborhood, and is 100% leased by JPMorgan Chase Bank (S&P: A+) and Old Navy (S&P: BB+) on a long term basis. The Property boasts 154’ square feet of frontage along the Lexington Avenue and 86th Street retail corridor and lies on top of the 86th Street subway station, which is the most residential trafficked subway station in Manhattan with 14.3 million annual riders.

Investment Highlights

Holliday Fenoglio Fowler, L.P (“HFF”) has been exclusively retained to arrange the sale of the newly created Leasehold Interest in 147 East 86th Retail (the “Property”), a 30,645 rentable square foot retail condominium situated at the base of the newly developed Hayworth, a 21-story, 61-unit, fully amenitized luxury condominium building. The modern glass Property with 17’2” ceiling heights on the ground floor and efficient floor plans is located on the irreplaceable corner of 86th Street and Lexington Avenue in the heart of Manhattan’s affluent Upper East Side neighborhood, and is 100% leased by JPMorgan Chase Bank (S&P: A+) and Old Navy (S&P: BB+) on a long term basis. The Property boasts 154’ square feet of frontage along the Lexington Avenue and 86th Street retail corridor and lies on top of the 86th Street subway station, which is the most residential trafficked subway station in Manhattan with 14.3 million annual riders. The Property represents a premier opportunity to acquire a stable cash flowing asset with long-term leases situated on one of the most desirable retail corridors in Manhattan.
Andrew Scandalios
Andrew Scandalios
Senior Managing Director Co-Head
Rob Rizzi
Rob Rizzi
Managing Director

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