The Real Deal New York

Yorkville mixed-use buildings hit market for $16M

March 14, 2012 11:30AM

A pair of mixed-use buildings in Yorkville have hit the block, asking $16 million, according to a statement today from Eastern Consolidated, who is marketing the properties.

The three-story buildings, at 81st Street On York Avenue, have rental apartments and ground-floor retail, the statement said. The 14 apartments include seven that rent at free-market rates, six that are rent-stabilized and one that is rent-controlled. Azita Aghravi, a senior director at Eastern Consolidated, and colleague Gary Meese, director of financial services for the firm, are marketing the buildings.

The parcels, at 1527-1531 York Avenue, are zoned R10 for residential development, the statement said.

“Positioned on a strategic corner location, the property could also become part of a larger assemblage in due course by joining with three adjacent small buildings that, together, could become a development comprising an entire half block along York Avenue between East 80th and East 81st Streets,” Aghravi said.

The buildings offer 51 feet of frontage on York Avenue, and are currently producing income, according to the statement. — Guelda Voien