OVERVIEW

Cushman & Wakefield has been exclusively retained to sell 114 East 37th Street, a 7-unit, 20’ wide walkup apartment building with 6 free market apartments and 1 rent stabilized unit. The property is located on the south side of beautifully tree-lined East 37th Street between Park and Lexington Avenues in the Murray Hill Historic District.

The building is approximately 6,300± SF and has been recently renovated and well-maintained. The residential units consist of a ground floor studio in the front and a rent stabilized 1-bed/1-bath apartment in the rear with a private garden. The second floor is a spacious floor-through 3-bed/2-bath apartment with exceptionally high ceilings. The third floor has a 3-bed/2-bath duplex and a 2-bed/1-bath apartment. The 4th floor has a portion of the third-floor duplex plus a 1-bed/1-bath apartment. The fifth floor has a floor-through 3-bed/2-bath apartment. The apartments feature spacious bedrooms, tall ceilings, lots of natural light, hardwood floors, in unit washers/dryers, faux fireplaces, garden facing rear windows with very little street noise 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 hav