Eastern announces East Side sale.

Eastern Consolidated Properties, Inc. announced the sale of 1286-1290 First Avenue, on the northeast corner of 69th Street and First Avenue, for $12,150,000. The sale included three condominium apartment buildings, with a total of 51 units, in addition to multiple retail stores and a garage within one of the buildings.

Eastern sold the property on behalf of the owner, Intell Investment Management LLC to purchaser Upper East Side-West Side Partners LP.

Eastern's Roberto Ortiz procured the purchaser while Azita Agravi and XX of Massey Knakel represented the owner. According to Ortiz, "These properties offer its new owner three five-story walk-up apartment buildings with over 75 feet of frontage on First Avenue and 109 feet of frontage on 69th Street. There are a total of 52 residential and two and two retail stores as well as three commercial condominiums, comprised of two retail spaces at 1292 First Avenue and a garage at 400 East 70th Street."

"1286 First Avenue has five units per floor, while 1288 and 1290 have four units on each floor. One boiler, installed in 1995, heats the residential units of the three buildings. The retail units have separate heating, ventilation and air conditioning units; the roofs and common areas are in excellent condition," he added.

Agravi remarked, "The property is well-located on the Upper East Side of Manhattan proximate to New York Hospital, Rockefeller University, SloanKettering Memorial Hospital and Weil Cornell Medical College; nearby properties are well maintained by the area's educational and medical institutions."