Welcome to 518 East 83rd Street .

This 5-story rental building features 20 units for rent with a basement office(can use as another one bed room). The building contains 1 two-bedroom unit that connects to a large outdoor space, 18 one-bedrooms and 1 studio apartment. New boiler just installed and have enough space to build laundry room in basement.

This walk-up building has potential for building upwards with air rights of approximately 7,000 - 8,000 square feet. With occupancy currently at 100% - the cap rate is at 3.4% and potential for increasing the projected cap of 5.1% by April 2023. 19 units are free market and 1 unit is stabilized.

This building is located near shoppings and Gracie Square.

518 East 83rd Street

Property Details of 518 East 83rd Street, Unit NA

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Listed by Brian Morgan and Hana Leander of Corcoran Group

Based on information submitted to REBNY as of December 1, 2022 12:11 AM EST . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

 
 

 

 

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