Park Avenue Court
120 East 87th Street, R14F
Upper East Side | Park Avenue & Lexington Avenue
Rooms
4
Bedrooms
2
Bathrooms
2
Status
Active
Real Estate Taxes
[Monthly]
$ 1,911
Common Charges [Monthly]
$ 1,745
ASF/ASM
1,000/93
Financing Allowed
90%
Property Description
Investors Only! Tenant in place through October 2027. Current cap rate 3.8%.
All showings by appointment with 24-hour advance notice.
The Opportunity
A rare opportunity to acquire a fully renovated, income-producing luxury condominium in one of Manhattan's premier white-glove buildings. 120 East 87th Street, Unit R14F is being offered with a high-quality tenant in place through October 2027, delivering immediate cash flow with no leasing risk or vacancy exposure.
Currently generating an approximate 3.8% cap rate, the investment offers both stability and built-in growth. The existing lease steps to $10,750/month in November 2026, with current market rents for similar residences achieving approximately $11,500/month, presenting additional upside at renewal. This is a turnkey acquisition with income from day one, a near-term increase already secured, and future appreciation potential.
The Apartment
Meticulously renovated to an uncompromising standard, this 2-bedroom, 2-bathroom home features soaring 14-foot ceilings, southern exposure, and exceptional natural light throughout.
The expansive living and entertaining space is defined by large soundproof windows with electric shades, white oak hardwood floors, recessed lighting, and bespoke custom finishes.
The open chef's kitchen is thoughtfully designed with Bosch stainless steel appliances, a 5-burner gas range, Caesarstone countertops, a Kraus deep sink, custom floor-to-ceiling cabinetry, and a striking blue agate quartz backsplash with integrated LED lighting.
The primary suite offers generous proportions, a large walk-in closet, and a spa-quality en-suite bath with premium fixtures, designer tilework, a soaking tub with shower, and a washer/dryer. The second bedroom is well-scaled with custom built-ins and access to a fully renovated second bathroom finished to the same high standard.
A glass-enclosed staircase leads to an approximately 400-square-foot upper-level bonus space, ideal for a home office, media room, or flexible use, with additional storage throughout (not included in the stated square footage).
The Building
Located within Park Avenue Court, one of the Upper East Side's most sought-after full-service condominiums, residents enjoy a comprehensive suite of luxury amenities including an indoor swimming pool, fully equipped gym, yoga room and children's playroom.
The Location
Set in the heart of Carnegie Hill, this address offers timeless appeal and enduring value. Tree-lined streets, cultural institutions, and premier conveniences define the neighborhood.
Contact us today for a tour of this exceptional property.
All showings by appointment with 24-hour advance notice.
The Opportunity
A rare opportunity to acquire a fully renovated, income-producing luxury condominium in one of Manhattan's premier white-glove buildings. 120 East 87th Street, Unit R14F is being offered with a high-quality tenant in place through October 2027, delivering immediate cash flow with no leasing risk or vacancy exposure.
Currently generating an approximate 3.8% cap rate, the investment offers both stability and built-in growth. The existing lease steps to $10,750/month in November 2026, with current market rents for similar residences achieving approximately $11,500/month, presenting additional upside at renewal. This is a turnkey acquisition with income from day one, a near-term increase already secured, and future appreciation potential.
The Apartment
Meticulously renovated to an uncompromising standard, this 2-bedroom, 2-bathroom home features soaring 14-foot ceilings, southern exposure, and exceptional natural light throughout.
The expansive living and entertaining space is defined by large soundproof windows with electric shades, white oak hardwood floors, recessed lighting, and bespoke custom finishes.
The open chef's kitchen is thoughtfully designed with Bosch stainless steel appliances, a 5-burner gas range, Caesarstone countertops, a Kraus deep sink, custom floor-to-ceiling cabinetry, and a striking blue agate quartz backsplash with integrated LED lighting.
The primary suite offers generous proportions, a large walk-in closet, and a spa-quality en-suite bath with premium fixtures, designer tilework, a soaking tub with shower, and a washer/dryer. The second bedroom is well-scaled with custom built-ins and access to a fully renovated second bathroom finished to the same high standard.
A glass-enclosed staircase leads to an approximately 400-square-foot upper-level bonus space, ideal for a home office, media room, or flexible use, with additional storage throughout (not included in the stated square footage).
The Building
Located within Park Avenue Court, one of the Upper East Side's most sought-after full-service condominiums, residents enjoy a comprehensive suite of luxury amenities including an indoor swimming pool, fully equipped gym, yoga room and children's playroom.
The Location
Set in the heart of Carnegie Hill, this address offers timeless appeal and enduring value. Tree-lined streets, cultural institutions, and premier conveniences define the neighborhood.
Contact us today for a tour of this exceptional property.
Investors Only! Tenant in place through October 2027. Current cap rate 3.8%.
All showings by appointment with 24-hour advance notice.
The Opportunity
A rare opportunity to acquire a fully renovated, income-producing luxury condominium in one of Manhattan's premier white-glove buildings. 120 East 87th Street, Unit R14F is being offered with a high-quality tenant in place through October 2027, delivering immediate cash flow with no leasing risk or vacancy exposure.
Currently generating an approximate 3.8% cap rate, the investment offers both stability and built-in growth. The existing lease steps to $10,750/month in November 2026, with current market rents for similar residences achieving approximately $11,500/month, presenting additional upside at renewal. This is a turnkey acquisition with income from day one, a near-term increase already secured, and future appreciation potential.
The Apartment
Meticulously renovated to an uncompromising standard, this 2-bedroom, 2-bathroom home features soaring 14-foot ceilings, southern exposure, and exceptional natural light throughout.
The expansive living and entertaining space is defined by large soundproof windows with electric shades, white oak hardwood floors, recessed lighting, and bespoke custom finishes.
The open chef's kitchen is thoughtfully designed with Bosch stainless steel appliances, a 5-burner gas range, Caesarstone countertops, a Kraus deep sink, custom floor-to-ceiling cabinetry, and a striking blue agate quartz backsplash with integrated LED lighting.
The primary suite offers generous proportions, a large walk-in closet, and a spa-quality en-suite bath with premium fixtures, designer tilework, a soaking tub with shower, and a washer/dryer. The second bedroom is well-scaled with custom built-ins and access to a fully renovated second bathroom finished to the same high standard.
A glass-enclosed staircase leads to an approximately 400-square-foot upper-level bonus space, ideal for a home office, media room, or flexible use, with additional storage throughout (not included in the stated square footage).
The Building
Located within Park Avenue Court, one of the Upper East Side's most sought-after full-service condominiums, residents enjoy a comprehensive suite of luxury amenities including an indoor swimming pool, fully equipped gym, yoga room and children's playroom.
The Location
Set in the heart of Carnegie Hill, this address offers timeless appeal and enduring value. Tree-lined streets, cultural institutions, and premier conveniences define the neighborhood.
Contact us today for a tour of this exceptional property.
All showings by appointment with 24-hour advance notice.
The Opportunity
A rare opportunity to acquire a fully renovated, income-producing luxury condominium in one of Manhattan's premier white-glove buildings. 120 East 87th Street, Unit R14F is being offered with a high-quality tenant in place through October 2027, delivering immediate cash flow with no leasing risk or vacancy exposure.
Currently generating an approximate 3.8% cap rate, the investment offers both stability and built-in growth. The existing lease steps to $10,750/month in November 2026, with current market rents for similar residences achieving approximately $11,500/month, presenting additional upside at renewal. This is a turnkey acquisition with income from day one, a near-term increase already secured, and future appreciation potential.
The Apartment
Meticulously renovated to an uncompromising standard, this 2-bedroom, 2-bathroom home features soaring 14-foot ceilings, southern exposure, and exceptional natural light throughout.
The expansive living and entertaining space is defined by large soundproof windows with electric shades, white oak hardwood floors, recessed lighting, and bespoke custom finishes.
The open chef's kitchen is thoughtfully designed with Bosch stainless steel appliances, a 5-burner gas range, Caesarstone countertops, a Kraus deep sink, custom floor-to-ceiling cabinetry, and a striking blue agate quartz backsplash with integrated LED lighting.
The primary suite offers generous proportions, a large walk-in closet, and a spa-quality en-suite bath with premium fixtures, designer tilework, a soaking tub with shower, and a washer/dryer. The second bedroom is well-scaled with custom built-ins and access to a fully renovated second bathroom finished to the same high standard.
A glass-enclosed staircase leads to an approximately 400-square-foot upper-level bonus space, ideal for a home office, media room, or flexible use, with additional storage throughout (not included in the stated square footage).
The Building
Located within Park Avenue Court, one of the Upper East Side's most sought-after full-service condominiums, residents enjoy a comprehensive suite of luxury amenities including an indoor swimming pool, fully equipped gym, yoga room and children's playroom.
The Location
Set in the heart of Carnegie Hill, this address offers timeless appeal and enduring value. Tree-lined streets, cultural institutions, and premier conveniences define the neighborhood.
Contact us today for a tour of this exceptional property.
Listing Courtesy of Brown Harris Stevens Residential Sales LLC
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Apartment Features
A/C [Central]
Washer / Dryer
View / Exposure
City Views
South Exposure
Building Details [120 East 87th Street]
Ownership
Condo
Service Level
Full Service
Access
Elevator
Pet Policy
Pets Allowed
Block/Lot
1515/7502
Building Type
High-Rise
Age
Post-War
Year Built
1990
Floors/Apts
24/223
Building Amenities
Bike Room
Courtyard
Garage
Garden
Health Club
Laundry Rooms
Playroom
Pool
Private Storage
Roof Deck
Building Statistics
$ 1,340 APPSF
Closed Sales Data [Last 12 Months]
Mortgage Calculator in [US Dollars]
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
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Additional building data provided by On-Line Residential [OLR].
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
Fair Housing
