Value-Add or Development Opportunity 1307-1309 Madison Ave

Lee & Associates NYC is pleased to present exclusively for sale the mixed-use asset located at 1307-1309 Madison Avenue, New York, NY 10128 (the “Property”). Located in the Carnegie Hill section of the Upper East Side, the Property features 40 feet of frontage on Madison Avenue between East 92nd Street and East 93rd Street. Current configuration of the building includes one ground floor commercial space, two 2nd floor commercial spaces, 5 free-market units, and 1 rent-stabilized unit. The residential units consist of 4 studios and 2 three bedroom duplexes with internal staircases. The property’s commercial leases are set to expire in 2025 and 2027 with an average remaining lease term of 2.3 years, allowing for flexibility and reconfiguration if the new owner would like to renovate and re-tenant the building. The Property has been well-maintained throughout its long-term ownership over the course of 43 years. 1307-1309 Madison Avenue currently presents stable cash flow with significant redevelopment potential through approximately 18,174 square feet of available air rights.
Highly Coveted Madison Avenue Frontage
In-Place Cashflow with Future Redevelopment Potential
Long-Term Ownership
Shorter Remaining Lease Terms Allow for Value-Add Or Development Business Plans