Description

New York Residence is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of 162 East 78th Street, a six-story elevatored townhouse currently used as a medical facility. It was completely renovated in 2010. The property presents a wide range of options - it could simply be held as an investment to generate a solid net yield of 4% with $720,000 annual NOI; all management tasks would be taken care of by the tenants staff. If acquired by a hospital or medical professional, part of the space could be made available for the future owner who might benefit from significant synergies with the existing medical team. Or, if so desired by a purchaser, the property could be vacated by the current occupants to facilitate other office use or a residential conversion. Either way, this offering presents an outstanding opportunity to acquire a prime building on one of the nicest streets of the Upper East Side, just three blocks from Central Park. Excellent access to public transportation - a subway station is located just around the corner.

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