534 East 14th Street, New York, NY 10009

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

$9,500,000  

Listing ID Number

25278

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 534 East 14th Street, a mixed-use building in the East Village neighborhood of New York City.

• The subject property is located on the south side of East 14th Street between Avenue A and Avenue B.


• The building consists of 16 studio apartments, 2 of which were combined, over 2 ground level retail units.

• Right next door to Extell's 500 East 14th Street site, with Target and Trader Joes as future neighbors.

• Plans exist to fully extend the ground floor retail units, which would double your commercial income.

• The train is located a block away at 1st Avenue and the crosstown M14 Bus runs along 14th Street.

• Take advantage of this opportunity to own a cash flowing investment property in one of New York’s most rapidly appreciating neighborhoods.

Overview

Building Type:Apartment Buildings, Mixed-Use Investment Buildings, Mixed-Use User Buildings
Location:South side of East 14th Street between Avenue A and Avenue B.
Lot Dimensions:25 x 103.25
Lot Sq Ft:2,575
Buildable Sq. Ft:10,324
Available Air Rights:2,680
Stories:5
Units:18
Residential Units:16
Commercial Units:2
Zoning:C1-6A
FAR:4
Taxes:$124,873
Building Sq Ft:7,644 / 8,581
Current / Proposed Ground Floor Extension
Building Dimensions:25' x 60' / 25' x 103.25'
Current / Proposed Ground Floor Extension

Expenses

Total Annual Expenses:$200,713

Investment Information

Gross Monthly Income:$48,989
Gross Annual Income:$587,870
Less Total Expenses:$200,713
Net Operating Income:$387,157

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

DJ Johnston
Director
(718) 307 6515
dj.johnston@cushwake.com

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

William Cheng
Director
(718) 606 7037
william.cheng@cushwake.com

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

Bryan Kirk
Associate
(718) 307 6516
bryan.kirk@cushwake.com

Joshua Sabzevari
Associate
(718) 307 6521
joshua.sabzevari@cushwake.com

George Bukawyn
Associate
(718) 606-7073
George.Bukawyn@cushwake.com


Property Images

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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.