Newmark has been exclusively retained by ownership to offer for sale the leasehold interest in 230 East 44th Street (“The Centra”). The 164-unit, 82% free market doorman / elevator building is situated on the south side of East 44th Street between Second and Third Avenues in the highly desirable Midtown East neighborhood of Manhattan.

Measuring over 130,000 square feet, the asset is comprised of 164 residential units across 14 stories, 2 occupied commercial spaces and an underground garage. The residential unit mix includes 18 studios, 43 one-bedrooms, 80 two-bedrooms, 18 three-bedrooms, 4 four-bedrooms and 1 five-bedroom apartment. The commercial space totals approximately 5,055 SF and features tenants Pink Blossom Nail Salon and the popular restaurant, Aragvi.

The asset benefits from multiple additional income streams driven by the attended parking garage, antenna and billboard income. Operating expenses are reduced by the commercial tenant reimbursements.

With its impressive 82% free market status, 230 East 44th Street offers future ownership the rare opportunity to acquire substantial scale with mark-to-market upside in one of the most sought-after neighborhoods in New York City.

230 East 44th Street offers convenient proximity to some of the city's most iconic landmarks including the Chrysler Building and the United Nation's Headquarters as well as some of the world's largest employers: JP Morgan, Pfizer, Amazon, SL Green and PWC. Just two blocks away from Grand Central Terminal, residents have direct access to the 4, 5, 6, 7 & S subway lines