Multifamily Apartment
338 E 53rd St New York, NY 10022
For Sale
Contact for pricing
Pending
Portfolio includes 60 units across three Manhattan multifamily buildings with a mix of free-market, rent-stabilized, and rent-controlled units.
Days on Market105
Property Features for 338 E 53rd St
General Information
- Standard status
- Pending
- Property subtype
- Multifamily
Listing Agency:
JLL - New York City, New York
Listed By:
Clint Olsen · License #NY 10301212298
Source:
Crexi
Added: Apr 11
Changed: Jul 21
Last Checked: Jul 23 at 8:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JLL - New York City, New York
Investment Insights
Based on property information with market context.
This sale offering presents the Upper East Portfolio, consisting of 60 units across three multifamily buildings. The portfolio includes one 40' wide elevator building and two 25' wide walk-up buildings. Each building contains 20 units, totaling 60 units with 46 free market units, 12 rent-stabilized units, and 2 rent-controlled units.
The units are configured as studios (29), one-bedrooms (16), and two-bedrooms (15), with only one of the units currently rented as a two-bedroom. Collectively, the three buildings generate approximately $1,467,000 in actual gross annual revenue, and the properties have been owned and managed by the same family for a combined period of over 180 years.
The buildings are described as well-maintained and located within the Turtle Bay, Lenox Hill, and Carnegie Hill sub-markets of Manhattan. New ownership is expected to have opportunities to increase rents through renovations and reconfiguring units, as well as recapturing basement space and utilizing additional air rights, based on the offering materials.
The units are configured as studios (29), one-bedrooms (16), and two-bedrooms (15), with only one of the units currently rented as a two-bedroom. Collectively, the three buildings generate approximately $1,467,000 in actual gross annual revenue, and the properties have been owned and managed by the same family for a combined period of over 180 years.
The buildings are described as well-maintained and located within the Turtle Bay, Lenox Hill, and Carnegie Hill sub-markets of Manhattan. New ownership is expected to have opportunities to increase rents through renovations and reconfiguring units, as well as recapturing basement space and utilizing additional air rights, based on the offering materials.
Key Highlights
- 60‑unit Manhattan multifamily portfolio across three buildings in Turtle Bay, Lenox Hill, and Carnegie Hill
- Properties at 338 E 53rd St, 430 E 66th St, and 118 E 91st St
- Unit mix: 29 studios, 16 1‑bedroom, and 15 2‑bedrooms; only one unit is currently rented as a 2‑bedroom
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment with Backyard
Vacation Rental
Tadas Fine Remodeling
Renovation Specialist
mPower
Production Facility
FAQs
What type of property is this?
Apartment building - Portfolio includes 60 units across three Manhattan multifamily buildings with a mix of free-market, rent-stabilized, and rent-controlled units.
Where is this apartment building located?
The property is located at 338 E 53rd St New York, NY.
What are key features of this property?
This property features: 60‑unit Manhattan multifamily portfolio across three buildings in Turtle Bay, Lenox Hill, and Carnegie Hill; Properties at 338 E 53rd St, 430 E 66th St, and 118 E 91st St; Unit mix: 29 studios, 16 1‑bedroom, and 15 2‑bedrooms; only one unit is currently rented as a 2‑bedroom
