159 East 106th Street Listing Details & Market Data

• Ariel Property Advisors has been retained on an exclusive basis to arrange the sale of 159 East 106th Street, a 28’ wide, 7,328 SF, 4-story walk-up building located on the north side of East 106th Street between Lexington Avenue and Third Avenue.
• The subject property contains 8 residential units and is in the process of being converted to 10-unit. Once completed, the new unit mix will consist of 6 two-bedroom apartments, 2 one-bedroom apartments and 2 studio apartments. Of these apartments, there will be 7 rent-stabilized, 1 rent-controlled and 2 free market units. The 2 one-bedroom and 2 studio units are being converted from two existing two bedroom units that are rent stabilized. Their new rent levels will be at market, but will remain rent stabilized.
• 159 East 106th Street is conveniently located only 3 blocks away from the Central Park and 10 blocks away from Upper East Side. The subject property is also in close proximity to several major recent residential developments such as the Sendero Verde at 1691 Madison, the Huxley at 181 East 101st Street, and Atlantic Development project located at 1998 Second Avenue. High-performing condominium projects such as North Park Tower at 1399 Park Avenue, and the Cereza at 1790 Third Avenue are also in direct vicinity.
• Quick access to lower Manhattan and the outer boroughs is provided by the 6-train subway station situated just 3 blocks away on East 103rd Street and Lexington Avenue, or by car along FDR Drive. Access to the greater metropolitan area is provided by the Metro-North railroad station on East 125th Street and Park Avenue. The asset is also well positioned to benefit from ongoing subway expansion along the 2nd Avenue corridor.
• 159 East 106th Street presents investors with a unique opportunity to acquire a cash-flowing asset with rental upside and protected tax class, in a rapidly appreciating neighborhood of Northern Manhattan. 

For more information, please contact the exclusive sales agents listed below.