JLL completes sale of two mixed-use buildings on New York City’s Upper East Side
1364 and 1368 York Avenue offer 50,030 buildable square feet on an undeveloped corner of the Upper East Side
NEW YORK, March 24, 2020 — JLL Capital Markets experts have completed the $13.85 million sale of 1364 and 1368 York Avenue, a pair of mixed-use buildings in the Lennox Hill neighborhood on Manhattan’s Upper East Side, for Christian Pompa.
1364 York Avenue is a five-story, 9,180-square-foot building that houses 18 residences, 11 of which are free-market units and seven that are rent-stabilized apartments. The property also features two ground-floor retail spaces totaling 608 square feet occupied by Orlando News and Jamil Liquors.
The five-story 1368 York Avenue totals 11,191 square feet and features 19 residences, 18 of which are free-market units and one that is rent-stabilized. In addition, the property includes two ground-floor retail spaces totaling 4,184 square feet occupied by JSK Produce and Green Produce. 1368 York Avenue’s retail space offers 120 feet of wraparound frontage on both York Avenue and East 73rd Street.
The mixed-use buildings are situated on the east side of York Avenue between East 72nd and East 73rd Streets. Combined, the two sites offer 50,030 buildable square feet on a largely undeveloped corner of the Upper East Side.
The properties are located in Lenox Hill, a vibrant section of the Upper East Side, with a wide variety of dining and entertainment options. It is also located steps from the 3.3-acre John Jay Park. The area offers convenient public transportation options to the rest of Manhattan and the outer boroughs via the nearby N, Q, 4 and 6 subway lines.
The JLL Capital Markets professionals overseeing the sale of 1364 and 1368 York Avenue for Christian Pompa include Managing Directors Guthrie Garvin and Tom Gammino and Associates Chris Skitch, Alexander Ball, Jeremy Simon and Connor Murphy.
“1364 and 1368 York Avenue is an exciting opportunity for investors looking for an undeveloped corner of the Upper East Side,” Gammino said. “With its significant frontage and high square footage, this is a project with significant potential.”
“Ideally positioned a block from the hospital, the property boasts more than 120 feet of wraparound frontage on both York Avenue and the side street, which offers retailers maximum exposure to consumers,” Garvin added.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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 $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.