217 East 3rd Street, New York, NY 10009

Alphabet City, East Village, New York, New York 10009

$6,000,000   $5,700,000  

Listing ID Number

25088

Property Description

Cushman & Wakefield has been retained on an exclusive basis to sell 217 East 3rd Street, a 4-story mixed-use building located on the north side of East 3rd Street, between Avenues B and C. The building has a vacant turnkey bar/restaurant on the ground floor and three free market floor-through apartments above (with month to month tenants). It is believed that two of the apartments were recently renovated. The usable basement is accessible via the common area and houses the mechanicals and storage area. The building is approximately 4,160 SF above grade, and there are approximately 4,700 SF of remaining air rights. All of the utilities are separately metered for gas and electric and each unit has a gas-fired furnace and hot water heater. The square footage does not include a one story structure at the rear of the property which is separated by a small courtyard area. The building is classified as Tax Class 2A and therefore ownership benefits from limits in significant tax increases. This is a rare opportunity for an investor or owner-user to acquire a low maintenance building in the East Village with little to no capital expenditure. The surrounding area has a wide array of great shopping, dining and nightlife options. The neighborhood has experienced rapid transformation in recent years which has attracted a younger population drawn to the area’s new developments and exciting streetscape.

Overview

Building Type:Mixed-Use Investment Buildings, Mixed-Use User Buildings, Townhouses
Location:North side of East 3rd Street, between Avenue B and C
Block/Lot:386/62
Lot Dimensions:23' x 96.17'
Approx.
Lot Sq Ft:2,212
Approx.
Available Air Rights:4,689
Approx.
Stories:4
Units:4
Residential Units:3
Commercial Units:1
Building Sq Ft:4,159
Approx.

Contact

For further information or inspection, please contact Exclusive Agents:

Michael F. DeCheser
Senior Managing Director
(212) 660 7772
michael.decheser@cushwake.com

Mei Ling Wong
Director
(212) 660 7716
meiling.wong@cushwake.com


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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.