Enter the "Deal room" for exclusive documents related to this property.
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JLL has been retained on an exclusive basis to arrange for the
sale of 248-250 East 62nd Street. The asset is a 7,843 square foot
townhouse in the heart of the Lenox Hill neighborhood of the
Upper East Side on the South side of East 62nd Street between
Second and Third Avenue.
The property is currently owner occupied and thus will be
delivered fully vacant. As a result, the building offers a flexible
investment opportunity for an owner-user, multi-family and/
or condominium redevelopment. In addition to the vacant
possession, the property features a significant amount of excess
development rights (22,685 BSF approx.) that provides a user
or investor the ability to redevelop and/or expand the property
further with the long term potential of taking part of a future
assemblage. Alternatively, due to the sliver law, the existing
building could be torn down and massed to approximately
17,754 BSF with new ownership still retaining approximately
12,774 BSF of development rights to potentially be transferred
to one of the neighboring receiving sites along Second Avenue
that will certainly be developed in the future.