928 3Rd Ave New York, NY 10022

This exceptional mixed-use assemblage at 926-928 Third Ave, 930 Third Ave, and 164 East 56th Street in New York, NY 10022 presents a rare investment opportunity. The three-lot corner property boasts a total of 20,081 square feet and sits on a 5,864 square foot lot. The property's advantageous C6-6 zoning allows for significant future development, with approximately 87,960 square feet of air rights. Currently generating a substantial net operating income (NOI) of $711,303, the property comprises 5 commercial units and 15 residential units. The commercial units currently produce $891,149.40 in annual rent, while the residential units generate $320,420.40, offering potential for increased revenue. This assemblage benefits from its prime location at the southwest corner of 56th Street and 3rd Avenue, providing convenient access to a comprehensive public transportation network, including the 4, 5, 6, F, N, R, and W subway lines, as well as MTA buses. Offered for sale for the first time in 45 years, this property represents a unique chance to acquire a well-established, high-income generating asset with significant upside potential. The lease type is NNN, and the property is classified as Class B.