The Reel

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A blog for breaking sales and neighborhood real estate news.

Massey Knakal Realty Services has been retained on an exclusive basis to arrange for the sale of a 102 unit, trophy multifamily asset located at 300 East 64th Street. The building, which stands at 27 stories at the southeast corner of East 64th Street and Second Avenue, offers luxury living in New York City’s most affluent neighborhood—a fact illustrated
in the rental premium it consistently achieves over its Upper East Side peers. The corner location, surrounded by mid-rise buildings, provides large amounts of natural light to each apartment and offers many upper floor units panoramic views of Midtown Manhattan and the East River.

Completely renovated in 2008 to condominium standards, the building presents both the opportunity to own a beautifully finished rental building and a turnkey condominium conversion. Manhattan vacancy rates are lower today than they were at the height of the real estate market in 2007, and with almost no new construction in the area over the past several years, there is little supply available to meet increasing demand in a strengthening local economy.

The bid deadline is April 12th.

Click here for listing details.

Neighborhoods: Upper East Side