JLL Capital Markets retained to sell five-story walkup in Manhattan neighborhood favored by young professionals
News release
17 May 2022
Upper East Side multi-housing property offered for sale
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NEW YORK, May 17, 2022 – JLL Capital Markets has been retained to arrange the sale of 322 East 90th St., a five-story walkup apartment building located on Manhattan’s Upper East Side. The asking price is $7.85 million.
Situated on the south side of East 90th Street, between 1st and 2nd avenues, the property comprises 16 apartments, 10 of which are free market. The units are configured as two studios, five one-bedrooms, eight two-bedrooms and one three-bedroom apartment. The bulk of the units have been recently renovated and feature high-end finishes including in-unit washer/dryers, built-in Bose speaker systems and Latch locks.
A Butterfly virtual doorman system monitors access at the property, which is a short walk from the 86th Street subway station and quick transfer throughout Midtown and Downtown Manhattan. Nestled between Carl Schurz Park to the east and Central Park to the west, 322 East 90th St. is also a short walk from Ruppert Park.
A JLL team lead by Managing Directors Hall Oster, Jonathan Hageman and Guthrie Garvin, Vice President Teddy Galligan and Associates Jack Norton, Jake Russell and Braedon Gait is representing the seller.
“Given the property’s access to outdoor space and superior condition relative to comparable product in the submarket, 322 East 90th St. represents an attractive living option for the neighborhood’s target rental demographic of young professionals,” said Oster.
“322 East 90th St. is poised to benefit from a post-COVID rebound in rents and will appeal to investors looking for an easy to maintain, mostly free market building with both short and long-term rental upside,” added Hageman.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.