106 Avenue B - Apartments FOR SALE


New York, NY 10009- Alphabet City
$3,000,000 USD
718-360-8827
106 Avenue B, New York, NY for Sale
$3,000,000 USD
Apartments - FOR SALE
1/15
null | 6.67% Cap Rate

106 Avenue B
New York, NY 10009
Alphabet City


HIGHLIGHTS

  • Rent Stabilized Building in the East Village
  • 8 Residential Apartments and 2 Ground Floor Retail Units
  • The building benefits from a low annual tax bill of $16,423, resulting in a below-average expense ration and strong in-place cash flow
  • $384 per square foot, well below replacement cost, and provides investors with an attractive 6.67% capitalization rate
  • The property will be delivered free of the AEP program, offering a clean path forward for future ownership.

OVERVIEW

Investment Property Realty Group (IPRG) has been exclusively retained by ownership to market 106 Avenue B, a mixed-use building located in the East Village neighborhood of Manhattan. The property is fully rent stabilized and consists of eight residential apartments and two ground-floor retail units. The building benefits from a low annual tax bill of $16,423, resulting in a below-average expense ratio and strong in-place cash flow. 106 Avenue B is being offered at $384 per square foot, well below replacement cost, and provides investors with an attractive 6.67% capitalization rate. The property will be delivered free of the AEP program, offering a clean path forward for future ownership.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$380 USD /SF

# OF UNITS

10

PRICE/UNIT

$300,000

CAP RATE

6.67%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,022 SF

ZONING

R7A

APN/PARCEL ID

0402-0036

ASK ABOUT THIS PROPERTY

Justin ZeitchikInvestment Property Realty GroupMore Info
718-360-8827

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Justin ZeitchikInvestment Property Realty GroupMore Info
718-360-8827

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.