109 Madison St - Apartments FOR SALE


New York, NY 10002- Two Bridges
$6,750,000 USD
212-776-1200
109 Madison St, New York, NY for Sale
$6,750,000 USD
Apartments - FOR SALE
1/28
null | Request Cap Rate

109 Madison St
New York, NY 10002
Two Bridges


HIGHLIGHTS

  • 82% Free Market
  • Ground Floor Laundromat
  • Rental Upside
  • Mostly Occupied Units

OVERVIEW

109 Madison Street is a 6-story, 9,480 square foot mixed-use walkup consisting of a ground-floor laundromat, 18 free market, 2 occupied rent-stabilized, and 2 vacant rent-stabilized units. The residential layouts include 19 2-bed/1-bath units, 2 2-bed/2-bath units, and 1 2-bed/2-bath with private rear yard access. The property runs efficiently as tenants pay for their own gas and electric, and solar panels on the roof provide electric for the building's common areas. 109 Madison Street borders Two Bridges, Chinatown, and the Lower East Side and presents immediate cash flow and future upside in rental growth. Since 2014, the Two Bridges neighborhood showed the highest increase in sales prices across Manhattan driven by rental demand and an influx of luxury residential development. 109 Madison Street offers incredible opportunity to capitalize on the neighborhood's continued growth and prosperity.

FOR SALE DETAILS

PRICE

$6,750,000 USD

PRICE/SF

$712 USD /SF

# OF UNITS

23

PRICE/UNIT

$293,478

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Value-Add Mixed-Use

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R7-2

APN/PARCEL ID

0277-0018

ASK ABOUT THIS PROPERTY

Thomas GamminoLee & AssociatesMore Info
212-776-1200

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Thomas GamminoLee & AssociatesMore Info
212-776-1200

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