150 East 79th Street Assemblage

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Listing was updated on: 05/25/2023

150 East 79th Street, New York, NY, US

Location
Upper East Side-NYC-10075


Sale
Avison Young, as exclusive agent, is pleased to offer for sale 150 East 79th Street (“the Site”), a development site located at the corner of 79th Street and Lexington Avenue in the Upper East Side. The site consists of five lots totaling 59,560 BSF as-of-right and 71,472 BSF with the Inclusionary Housing bonus. There is approximately 70 feet of frontage on East 79th Street and 68 feet of frontage on Lexington Avenue. The previous developer paid $76.6M to assemble the sites.

Currently, the five lots are improved by small commercial or mixed-use properties totaling 16,014 SF. All the buildings are vacant except for 1135 Lexington Avenue and 150 East 79th Street, which totals 5,582 SF across the ground and fourth floors and is occupied by First Republic Bank through July 31, 2026. First Republic Bank also has two 5-year extensions, providing the buyer with a steady stream of income until breaking ground.