Midtown East, New York
Residential & Retail:
240,000 Square Feet
10,000 square feet of retail
space fronting Second
126 car garage
A luxury full-service residential building and a generational asset built by the Elghanayan Family in 1959.
Olympia House is conveniently located in the heart of Midtown East, just two blocks from Grand Central Station and the United Nations and only a fifteen-minute walk from Times Squre and Central Park.
Asset management opportunities
As residential vacancy rates in Manhattan are historically around 1%, this asset class provides a very attractive investment.
As regulated apartments are vacated, EPIC has an efficient renovation program which ensures each apartment is fully renovated to optimize the increased rental value.
As a result of EPIC’s active, hands-on management, it has been possible to deregulate 80% of the apartments, increasing rents significantly and unlocking value.
A commitment to maintenance and regular investment in cosmetic improvements has ensured the building remains in first class condition and provides a steady return on investment.