161 - 163 AVENUE A

Sold - Manhattan - East Village

$32,000,000

Net Operating Income: Contact Agent

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Key Details

Property Type
Commercial
Neighborhood
East Village
Property Dimensions
62.0 x 90.0
Property Area
50,000 sq.ft.
Total Units:
3
Stories:
7
NOI
Contact Agent
Price
$32,000,000

Listing Description

The building is currently configured as a 7 story walk-up building and features and expansive 119’ of frontage on East 10th Street and 71.25’ along Avenue A. The 9,067-square foot (119’ x 102.21’ IRR.) lot is split zoned as R7A/R8B with a commercial C2-5 overlay – commercial FAR 2.0, Residential FAR 3.45/4.0, with IH 4.6 community facility 4.0. The building will be delivered vacant making for an ideal conversion opportunity or continued educational/recreational use by an end user.

The 50,000-square foot building is comprised of classroom, office, gymnasium, auditorium, music studios, recreational and pool space. Every floor boasts 10’+ ceilings with many touting double height ceilings. The concrete slab construction enables virtually beamless floor plates and allows for large open rooms.

The East Village is home to a number of newly completed condo and rental developments. Many of which has already been absorbed by neighborhood demand or sold before building completion. The Steiner at 437 East 12th Street, The Jefferson on 211 East 13th Street and 100 Avenue A are among many of the condo developments that are rapidly selling in the neighborhood. The location also provides ample transportation via CitiBike, Subway lines 4, 5, 6, N, Q, R, W, L & F and M8 & M21 bus service for easy access to the entire city and multiple boroughs.

Property Details

Block/Lot:
438/32
Lot Dimensions
119.0 x 71.25
Lot Area
9,067 sq.ft
Zoning:
R7A
FAR as Built:
5.51
Max FAR:
4.0
Michael GembeckiCushman & Wakefield
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Sales & Transactions

AddressSale PriceSale DateProperty Type
24 1 AVENUE$11,533,99403/02/2018Commercial
15 AVENUE A$4,300,00001/18/2018Commercial
122 SECOND AVENUE$9,100,00009/16/2016Commercial
4 ST MARKS PLACE$10,000,00004/21/2016Commercial
130 2ND AVENUE$12,000,00008/10/2015Commercial