Apartment building, SoHo, New York, USA

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Apartment building, SoHo, New York, USA

$8,606,000
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  • Yield
    5.0%
  • Built in 
    2000
Details
Property parameters
  • Land area: 511 m²
  • Total apartments: 2
  • 3-floor building
Financial performance
  • Annual income: $416,537
Tenants
  • Fully let

An apartment building with a street retail store.

Description

An apartment building with a view of the Tower of Freedom and the Empire State Building.

The object includes:

  • 1 street retail store
  • 2 two-level apartments with panoramic windows

Inner space:

The duplex on the 1st floor includes:

  • 2 bedrooms
  • 2 bathrooms
  • living room

The apartment on the 2nd floor includes:

  • 3 bedrooms
  • 3 bathrooms
  • 2 balconies
  • 2 rooftop terraces

Financial performance

The cost of the facility is 9,200,000 $.

The absolute annual income is 445,654 $.

The current yield of 5,0%.

Tenants

The lease agreement is valid until 2022 and provides indexation of rent.

Location and nearby infrastructure

The property is located in the famous residential area of SoHo in Manhattan.

The quarter is famous for its stylish buildings of the XIX century with cast-iron elements, the presence of many galleries, expensive shops and major city department stores, cafes, restaurants and hotels. All this attracts ordinary people, celebrities, top models, and numerous tourists.

SoHo is a former manufacturing area, in which textile factories were located in the 19th century.

Until the mid-80s of the 20th century art galleries were located here and Soho was a place of pilgrimage for the artistic bohemians of New York, and production warehouses were converted into residential apartments.

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