Raven Property Advisors has been retained as the exclusive broker for the sale of the Manhattan Portfolio, comprised of four properties: 335 East 22nd Street, 345-347 East 78th Street, and 262 West 91st Street. Available individually or as a package, the portfolio contains 55 apartments, of which 58% are free market and 38% are rent-stabilized. The majority of FM units are rented approximately 20-25% below current market levels, while the majority of RS units have a substantial difference between legal and preferential rents, providing a clear path for income growth now and in the future. With a combined total gross square footage of approximately 26,245 SF, investors have a unique opportunity to acquire immediate scale in some of Manhattan’s most desirable neighborhoods. Offered to the market for the first time in almost 50 years, these buildings have been well-maintained with minimal deferred maintenance.
