316-318 EAST 77TH STREET

316-318 East 77th Street are two adjacent 5-story multifamily walk-ups consisting of 15 free market apartments. In the event a Contract for Sale is entered into on the premises by the owner and a third party and/or property is to be demolished, the lease(s) shall terminate early at the option of the owner and tenant(s) agree to vacate within 90 days-notice from the owner. This package presents a unique conversion / value-add opportunity that includes DOB approved plans* for an alternation type one to convert them to a twelve (12) and fifteen (15) unit building. The plan allows both buildings to be combined with an elevator in the middle using vertical and horizontal extensions. Buildings would include an additional floor. The property is a short walk from the Q-line subway stations on 72nd and 86th Street as well as the 6-line subway station on 77th Street. Current units have unique layouts and are all in good up- scale condition.