1311-1337 Lexington Avenue

Step into the enchanting world of Upper East Side luxury with a rare opportunity to own a collection of six retail condominium units on the prestigious Lexington Avenue. Nestled at the base of the iconic Philip House in Carnegie Hill, these historic spaces blend classic charm with modern allure.
Spanning an entire block front, these upscale units offer a total of 6,000 square feet on the ground floor and approximately 4,000 square feet in the cellar. With a mix of high-end tenants, including the beloved Flowers by Philip, the property embodies the vibrant spirit of the neighborhood.
Currently yielding high returns, the property boasts a cap rate in the mid 6’s. Projections suggest an even more enticing 8% cap rate with the vacancies leased at market rate. The recent lease renewal with Flowers by Philip for another 10 years, at the same price with minor increases, underscores the enduring appeal of this prime location.
In the heart of Carnegie Hill, where tradition meets contemporary living, these retail units stand as a testament to the timeless elegance of New York City’s Upper East Side. Embrace the opportunity to be part of its rich history and dynamic future.