OVERVIEW

Cushman & Wakefield has been exclusively retained to arrange for the sale of 529 East 85th Street – a six-story elevator building located in the Upper East Side neighborhood of Manhattan. The subject property is located on the north side of East 85th Street between York and East End Avenue. Spread across approximately 38,700 gross square feet above grade, the building is currently configured as 30 total residential units of which 23 are two-bedroom units, 5 are three bedroom units, 1 is a studio unit and 1 is a potential four-bedroom unit. Of the 30 units, 15 are Free Market, 14 are Rent Stabilized, and 1 is Rent Controlled.

Family owned for over 70 years, the property is an excellent opportunity for a purchaser to acquire a 75’ wide pre-war elevator building at an attractive basis in the coveted Upper East Side neighborhood. There is tremendous upside in the in-place market apartments that can be realized by implementing a capital program for the building as well as enhanced renovations in the units themselves and/or creating more bedrooms in the large and spacious units. The current large unit layouts lend themselves nicely to a varied tenant pool whether it be young professionals living with roommates or families seeking a more charming and convenient location to call home.

The property has recently undergone a plethora of capital improvements, which includes but is not limited to a façade renovation that was completed in the late Summer of 2024, an e