928 3Rd Ave New York, NY 10022
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High-income 20-unit assemblage, ideal for redevelopment.
Property size:
20,081 SFProperty Features for 928 3Rd Ave
General Information
- Property type
- Mixed-use properties
- Square Feet
- 20,081 SF
- Class
- B
Building Details
- Units
- 20
Listing Agency: MIdtown - Keller Williams NYC Listing Agent: Mirza Avdovic
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.968330292965
- Latitude
- 40.759712039233
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FAQs
What type of property is this?
Mixed-use property - High-income 20-unit assemblage, ideal for redevelopment.
Where is this mixed-use property located?
The property is located at 928 3Rd Ave New York, NY.
What are key features of this property?
This property features: Exclusive offering: Corner assemblage of three lots at E 56th St & 3rd Ave.; 50' x 95' lot, totaling 4,750 square feet, ideal for future development.; As-of-right development potential: 87,960 SF commercial, 58,640 SF residential.
