Apartment building, Manhattan, New York, USA

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Apartment building, Manhattan, New York, USA

$12,198,000
$2,647 /m²
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  • Total area
    4,607 m²
  • Yield
    5.3%
Details
Property parameters
  • Land area: 1,147 m²
  • Total apartments: 22
  • 6-floor building
Financial performance
  • Annual income: $646,576
Tenants
  • Fully let

An apartment building with restaurant on the ground floor.

Description

A six-story boutique building with a recent renovation in the lobby, common areas and apartments.

The object includes:

  • 1 retail store
  • 12 one-bedroom apartments
  • 10 three-room apartments

Inner space:

  • living room
  • game room
  • bicycle storage room
  • canteen
  • Wi-Fi

Financial performance

The cost of the facility is 12,950,000 $.

The absolute annual income is 686,350 $.

The current yield of 5,3%.

Tenants

The tenant of the retail space on the ground floor is the popular in the area restaurant.

The lease agreement is valid until November 2023.

Location and nearby infrastructure

The property is located in the southeastern part of Manhattan — Lower East Side. The region was traditionally immigrant, but in the 2000s it experienced rapid gentrification (an increase in the average income level of the population due to the replacement of low-income residents by the more affluent ones). Currently, there are many elite boutiques and restaurants.

There are food shops, a farmer's market, restaurants and cafes, pharmacies, a post office, a secondary school, a park, a children's playground, an art gallery, Vostok Broadway metro station in a walking distance.

La Guardia airport is in 20 minutes by taxi, John F. Kennedy airport — in 30 minutes by taxi (without traffic jams), to Times Square — 19 minutes by metro, to Wall Street — 15 minutes by metro.

More properties

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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    Marina Filichkina,
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