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
The cost of the property is $ 13,850,000.
Projected annual income is $ 599,705.
The projected yield of 4.3%.
The tenant of a commercial premise is an art gallery.
The lease agreement is valid for 10 years with 3% annual rent increases.
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.
