217-219 East 85th Street & 220 East 86th Street, NYC

Investment Highlights:

Meridian Investment Sales is pleased to present 220 East 86th Street and 217-219 East 85th Street, a three-building, 38,590-square-foot mixed-use portfolio on the 85th and 86th Street commercial corridors in Yorkville on Manhattan’s Upper East Side, offered at $22,500,000. The portfolio features 44 residential units and 7 commercial spaces totaling 8,500 square feet, anchored by Orange Theory Fitness and Modern Martial Arts NYC on leases running through 2030 and 2034, generating $977,425 in annual commercial rent. At 98% residential and 97% commercial occupancy, the portfolio delivers an in-place NOI of $1,308,843.

The residential mix of 27 rent-stabilized units averaging $1,628 per month and 17 free-market units averaging $3,720 per month offers embedded upside, with several stabilized units already trading at or near free-market rents. The owner has invested nearly $2 million in capital improvements over the past four years. Steps from the East 86th Street subway station, walking distance to Central Park, and proximate to major institutional employers including New York-Presbyterian/Weill Cornell, Hospital for Special Surgery, and Memorial Sloan Kettering, this portfolio represents a compelling opportunity to acquire a stabilized, cash-flowing asset in one of Manhattan’s most enduringly desirable neighborhoods.