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21-Story MXD on the Block for $130M

NEW YORK CITY-Bids for the Easton, a 200,000-sf building at 360 E. 65th St. are due today. Approximately 57% of the residential units have free-market status.

By Natalie Dolce | Updated on September 11, 2007

(Read more on the multifamily market.)

NEW YORK CITY-The Easton, a 21-story elevatored 158-unit residential and retail property located at 360 E. 65th St., is on the market.Brian Ezratty, vice chairman of Eastern Consolidated tells GlobeSt.com that pricing is around $130-million.

Approximately 57% of the residential units have free-market status with an average below-market rent of $47 per sf, and just under 43% of the units remain rent stabilized at a average of $17 per sf. The building’s avenue retail space totals 9,700 sf and is currently 100% occupied at below average rents, with leases that expire from 2011 to 2014. The property’s lease for its 69-car below grade garage space, a valuable amenity, expires in 2012.

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