340 EAST 9 STREET

For Sale - Manhattan - East Village

$7,200,000

Net Operating Income: $365,734

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Key Details

Property Type
MultiFamily
Neighborhood
East Village
Property Dimensions
25.0 x 63.0
Property Area
7,300 sq.ft.
Total Units:
10
Stories:
5
NOI
$365,734
Price
$7,200,000
Price Per Unit
$720,000
Cap Rate
5.1%

Listing Description

340 East 9th Street is a 10 unit multifamily walk up building located on the south side of East 9th Street between 1st and 2nd Avenues. The building consists of 9 Free Market apartments and 1 Rent Stabilized apartment. All apartments are 2 bedroom and 2 bathrooms. The building was largely renovated in 2005 leaving some opportunity to update units and increase the rent roll. This property is tax class 2B, which is one of the protected tax classes. All leases expire next summer. The property is 3.5 blocks to the 6 train at Astor Place and 5 blocks from the L Train at 1st Avenue.

Property Details

Block/Lot:
450/24
Lot Dimensions
25.0 x 93.92
Lot Area
2,348 sq.ft
Zoning:
R8B
FAR as Built:
3.11
Max FAR:
4.0
Bryan HurleyCushman & Wakefield
Contact Agent View Setup

Sales & Transactions

AddressSale PriceSale DateProperty Type
226 EAST 10TH STREET$4,900,00007/26/2018MultiFamily
215 EAST 12TH STREET$8,500,00005/29/2018MultiFamily
174 1 AVENUE$12,050,00005/17/2018MultiFamily
251 EAST 10TH STREET$8,000,00002/16/2018MultiFamily
31 EAST 1ST STREET$5,381,39409/23/2016MultiFamily
3 EAST 3RD STREET$11,500,00008/12/2016MultiFamily
251 EAST 10TH STREET$5,000,00007/26/2016MultiFamily
319 EAST 6TH STREET$7,920,40005/31/2016MultiFamily
332 EAST 6TH STREET$6,911,00004/06/2016MultiFamily
50 EAST 3RD STREET$58,000,00004/01/2016MultiFamily