530 and 534 East 88th
Street are two adjacent five story plus basement elevatored apartment buildings
featuring 150’ of combined frontage on the south side of East 88th Street
between York Avenue and East End Avenue. In total, the properties contain
approximately 57,000 gross square feet and feature a total of seventy-three (73)
residential units.
Additionally, six of the vacant
units on the ground floor are currently constructed as the former sales office
for the adjacent 170 East End Avenue condominium. The rent stabilized and rent
controlled units are renting at an approximate average of only $14.68 and $9.85
per net square foot respectively with the total blended rent per square foot for
all the units at only $28.57 approximately. These rent levels clearly are
representative of the tremendous upside potential in these under market
units.
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Neighborhoods: Upper East Side