Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area

Property Description

JLL has been exclusively retained to arrange the

sale of 991 Third Avenue (The “Property”), a 4,960 SF building

with 1,664 SF of additional usable basement space. 991 Third is

located on the corner of 59th Street and Third Avenue directly

across from the famous Bloomingdales Department Store. The

Property is triple-net leased to Capital One Bank (the “Tenant”)

which has a credit rating of Baa1 and 10 years remaining on their

current term, with another 10 year option. Visibility of the subject

property is ideal as it is positioned directly outside the entrance

to the 59th Street Subway Station and is centrally located within

the heavy retail corridor of Midtown Manhattan. Neighboring

retail tenants like Bloomingdales, IKEA, Dylan’s Candy Bar,

Home Depot, and Zara account for high foot traffic and exposure.


Investment Highlights

In one of Manhattan’s highest end neighborhoods, 991 Third

Avenue presents an outstanding opportunity for investors to

purchase a rare NNN leased asset in a stand alone property.

In one of Manhattan’s highest end neighborhoods, 991 Third

Avenue presents an outstanding opportunity for investors to

purchase a rare NNN leased asset in a stand alone property.

Last Updated Date: 25 Mar 2021
Clint Olsen
Clint Olsen
Managing Director, Capital Markets
License details
NY-10301212298
Bob Knakal
Bob Knakal
Chairman, NY Investment Sales, New York Office Co-Head
License details
NY-10311207925
Last Updated Date: 25 Mar 2021

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