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249 E 48th StNew York, NY 10017
249 East 48th Street
Asset ClassMultifamily, Mixed Use, Office, Healthcare Facility
overview of deal

Overview

Avison Young has been engaged by ownership as the exclusive agent to sell eighty-five (85) unsold residential condominium units, one (1) professional office condominium unit and seven (7) parking condominium units located at the Turtle Bay House at 249 East 48th Street (the “Property”). The residential offering includes seventy-seven (77) fair market units (91% of the portfolio), totaling 67,399 SF, and eight (8) rent-stabilized units (9% of the portfolio), totaling 6,884 SF. The unit mix includes twenty-three (23) studio units, ten (10) alcove studio units, twenty-seven (27) one-bedroom units, twenty-two (22) two-bedroom units and three (3) three-bedroom units. Twelve (12) units feature private terraces. The offering also includes sponsor’s rights and condo board seats.

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Investment Highlights

  • 91% free market
  • Value-add opportunity
  • Major employers, schools, and medical institutions located nearby
  • Sponsor’s rights and board seats
  • Business plan flexibility for rentals or individual condo sales
  • Live-work-play location
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deal gallery image
deal gallery image
249 E 48th StNew York, NY 10017

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