Apartment building, Lower East Side, New York, USA

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Apartment building, Lower East Side, New York, USA

$13,850,000
$14,844 /m²
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  • Total area
    933 m²
  • Yield
    4.3%
Details
Property parameters
  • 5-floor building
Financial performance
  • Annual income: $540,194

An apartment building with a commercial premises on the ground floor.

Description

There is a commercial unit on the ground floor, and the upper floors are occupied by nine 2-bedrooms apartments.

The house includes a shared roof deck, a bike storage, and a locker storage.

In 2016 the following repairs were carried out:

  • roof replacement
  • rear building extension on all floors
  • full asbestos removal

Financial performance

The cost of the property is $ 13,850,000.

Projected annual income is $ 599,705.

The projected yield of 4.3%.

Tenants

The tenant of a commercial premise is an art gallery.

The lease agreement is valid for 10 years with 3% annual rent increases.

Location and nearby infrastructure

The property is located in the Lower East Side. This is a historical area of New York with brick houses with old fire escape stairs and narrow streets. The traditional architecture is combined here with modern shops, restaurants and design studios.

Bus stops, metro stations, parks, cafes, a cinema and a sports field are situated not far from the building.

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If this ad doesn't suit you, have a look at the other apartment buildings for sale in Lower East Side.

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