Newmark has been retained on an exclusive basis to offer for sale the Manhattan Residential Collection which is made up of 4 multifamily and mixed-use assets located in the Upper East Side, Midtown East, NoMad, and Greenwich Village neighborhoods of Manhattan. The Manhattan Residential Collection is being offered either individually or as a portfolio acquisition. In total the Collection presents future ownership with an opportunity to acquire 113 residential units and 5 commercial units across some of Manhattan’s most desirable neighborhoods.

The assets offer strong in place cash flow but significant mark to market potential as many of the units are renting below market. The buildings are primarily free market which will allow future ownership to significantly grow revenue upon unit turnover. Some of the buildings have undergone significant capital expenditures in recent years including Local Law 11 improvements, a roof replacement, elevator upgrades, and more.

28 West 26th Street is a ~14,000 SF, 26-unit elevator building located between 5th and 6th Avenues, just steps away from Madison Square Park. The building is 73% free market with significant mark to market potential as well as development potential as there are over 10,000 SF of air rights and is located adjacent to a large parking lot.

928-930 Second Avenue is a 20,570 SF, mixed-use walkup building offering 50’ of frontage along Second Avenue between East 49thand 50th Streets. The buildings are made up of 27 residential units above 2 commercial units. The residential units are 37% free market and the commercial units both recently signed new leases which provide term through 2031 and 2039 respectively.

1269-1271 First Avenue is a ~15,000 SF elevator asset located in the Lenox Hill neighborhood of the Upper East Side. The property is made up of 20 residential units and 3 commercial units. The residential units are 90% free market which allows for significant mark to market potential. 1269-1271 First Avenue boasts over 21,000 SF of additional air rights allowing for future potential redevelopment or assemblage.

153-159 East 96th Street is a ~37,000 SF, 40-unit elevator building located on the south side of 96th Street between 3rd and Lexington Avenues. The asset is made up of 39 rent stabilized units and 1 rent controlled unit. The building offers over $162,000 of achievable, annual preferential rents that will allow future ownership to keep pace with market demand upon unit turnover.