Highlights
• Mixed-use property located on the Upper East Side • Features high-quality, free-market apartments with no rent regulation • Ground-floor commercial space occupied by a strong tenant • Close proximity to major hospitals and Rockefeller University • Convenient access to multiple transportation options
Description
Marcus & Millichap is exclusively representing the sale of 245 East 60th Street, a mixed-use walk-up building located between Second and Third Avenues on the Upper East Side. The property spans 20 feet of frontage and is built 20 by 49 feet on a 20 by 100.42-foot R8B/C2-8/TA-zoned lot, offering approximately 3,200 square feet of unused development rights. Constructed around 1910 and not within a historic district, the building features a ground-floor retail space with a finished basement leased to Naturepedic, a mattress company, a second-floor commercial space leased to an interior designer, and two updated full-floor three-bedroom, one-bath apartments that are free from rent regulation. This property provides investors with the opportunity to acquire a well-maintained, easily managed asset in a prime Upper East Side location. Current ownership has consistently upgraded building systems, ensuring the property remains in excellent condition. Its position within a vibrant neighborhood offers proximity to popular dining, nightlife, and retail on Second and Third Avenues, as well as major institutions such as Rockefeller University, Memorial Sloan Kettering, Hospital for Special Surgery, and NewYork-Presbyterian Hospital. Additionally, the building benefits from excellent accessibility, located across from the Roosevelt Island Tram and just three blocks from the Lexington Avenue/63rd Street subway station (F and Q lines).
Listing Details
- Cap Rate
5.26%
- Tenancy
Multi
- Space Type
Multifamily
- Sub Category
Apartments Building
- Sale Type
Investment Sale
- Date Listed
9/4/2025
- Net Operating Income
$236,803
- Ground Lease
No
Property Specifics
- Property Name
245 East 60th Street
- No of Buildings
1
- No of Stories
4
- No of Units
4
- Year Built
1910
- Building Size
4,760 SF
- Zoning
R8B / C2-8 / TA