242 75Th StNew York, NY 10021

Property Details for 242 75Th St

Year built

1910

Lot size

0.06 AC

Property size (Sq ft)

7,895 SF

Zone code

R8B

Property type

Residential income homes

Property subtype

Serviced apartments

APN

01429-0029

APU

14290029

Description

This meticulously renovated five-story walk-up building at 242 East 75th Street, in Manhattan's prime Upper East Side, presents a compelling investment opportunity. The 7,895 square foot property boasts 20 residential units, with sixteen free-market and four rent-stabilized apartments. Recent renovations encompass all free-market units and common areas, featuring high-end finishes including ebony and walnut hardwood floors, recessed lighting, Carrara marble countertops, stainless steel appliances, espresso cabinets, crown and baseboard moldings, and luxury bathrooms with intricate mosaic tile work. Each unit includes a split-system HVAC unit and in-unit washer and dryer. The building enjoys a desirable location with 25 feet of frontage on East 75th Street, between 3rd and 2nd Avenues, offering excellent visibility and convenient access to the 6 and Q subway lines at the nearby 77th Street station. The asking price is $7,650,000, translating to $968.97 per square foot. This property offers a strong blend of high-quality renovations, desirable location, and a mix of free-market and rent-stabilized units, making it an attractive investment for discerning buyers. The building's high occupancy rate and strong rental income potential further enhance its investment appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $1,618,546

  6.5%

  $1,494,043

  7%

  $1,387,326

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,598,919

  Geo Method

  $1,598,919

• Alternative Use

  Use

  Valuation

  Residential

  $1,494,043

  Hospitality

  $1,368,535

  Educational

  $1,138,605

  Medical

  $1,177,764

  Retail

  $1,771,164

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7708

Longitude

-73.9576

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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