Apartment building, Manhattan, New York, USA

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Apartment building, Manhattan, New York, USA

$7,201,000
$2,771 /m²
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  • Total area
    2,598 m²
  • Yield
    4.9%
Details
Property parameters
  • 5-floor building
Financial performance
  • Annual income: $355,440
Tenants
  • Occupancy: 90%
  • End of lease: 2018

A five-storey mixed-use building with a commercial unit, an office and apartments.

Description

The total area of the building is 2,598 m².

A commercial office space can be converted into an extra living unit after the lease agreement expires in 2018.

The apartments are renovated and fitted with modern equipment. The building has repaired plumbing and electric system, renovated common areas and a new video intercom system.

Financial performance

Absolute annual income is 375,166 $.

The current yield is 4.9%.

Financial performance with all premises leased out:

Absolute annual income is 380,000 $.

A yield is 5%.

Location and nearby infrastructure

The property is located in Manhattan neighbourhood. Underground stations, shops, restaurants, galleries, educational institutions, parks and other amenities are within walking distance.

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