329-339 East 94th Street Upper East Side Apartment For Sale

11-unit Manhattan value-add portfolio\nUnit Mix: \n89 Free Market\n17 Rent-Stabilized\n5 Rent-Controlled \n\nThe portfolio will be delivered approximately 95% vacant. Only 9 regulated units are currently occupied, while the remaining regulated units have been vacant for an extended period.\nProjected stabilized value is approximately $65 million. The property also offers the opportunity to assume an existing loan of approximately $18 million at a 5.0% interest rate.\nOwnership\'s position, based on advice from its rent regulation counsel, is that the vacant regulated units may qualify for first rent treatment based on a combination of factors, including the property\'s prior nonprofit/church use, where the apartments were reportedly occupied by the church rather than operated as traditional rental units, the extended vacancy period, and substantial capital improvements completed before re-occupancy. Purchasers should conduct their own legal and regulatory due diligence regarding these matters.\nContact us for the complete Offering Memorandum, data room access, financials, rent roll, and supporting due diligence materials.