137 Lexington Avenue
137 Lexington Avenue (alternative address 129 E 29th Street) is a multi-family four story building. The asset is approximately 5,708 square feet plus a usable basement measuring 1353 square feet for a total of 7,061 square feet. The FAR allows for an additional 2,864 square feet for a total of 9,925 buildable square feet (including basement).
This four-story walk-up building contains six residential units and one commercial ground floor unit.
Of the six residential units there is one rent stabilized unit and five free market units. There are three studios and three 2-bedroom units. The first floor unit and part of the basement is currently rented to a laundromat.
This property is located in one of Manhattan's most sought after and active neighborhoods in the city and is in close proximity to some of the best shops, restaurants, and office buildings. The asset is also within several blocks to both highly coveted Madison Square Park and Gramercy Park. The 4 and 6 trains are just a block away and the M101,M102, M103, X2 and X5 bus lines are accessible on Lexington Avenue and 28th Street. As strong residential rental demand continues to drive rental rates higher, 137 Lexington Avenue
offers investors the opportunity to capitalize on an asset with considerable upside as well as consideration for re-development on a prime corner and neighborhood in Manhattan.
Please note some images have been virtually staged.