Bestreich Realty Group Acquires Mixed-Use Building On Upper East Side For $4.9M

1301 Third Avenue, a 9-unit mixed-use building located on the Upper East Side, has been sold for a price of $4,900,000. Situated on Third Avenue between East 74th & East 75th Streets, the property offers a prime repositioning opportunity. The majority of the residential units are in need of renovation, with two units completely gutted, presenting the buyer with a near blank canvas. The sale also included the transfer of the remaining air rights at the property.

Summary of Transaction Details

• Property Type: Mixed-use
• Transaction Amount: $4,900,000
• Address: 1301 Third Avenue
• Market: Upper East Side
• Square Footage: 5,800
• Price per Square Foot: $844
• Buyer's Representative: Justin Zeitchik - Bestreich Realty Group
• Seller's Representatives: Guthrie Garvin & Jack Norton - JLL

JLL facilitated the sale of 1301 Third Avenue, with Guthrie Garvin and Jack Norton from JLL serving as the seller's representatives. Justin Zeitchik from Bestreich Realty Group acted as the buyer's representative in this transaction.