19 1 AVENUE

For Sale - Manhattan - East Village

$4,000,000

Net Operating Income: $223,313

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Key Details

Property Type
Mixed Use
Neighborhood
East Village
Property Dimensions
17.0 x 38.0
Property Area
2,848 sq.ft.
Total Units:
3
Stories:
4
NOI
$223,313
Price
$4,000,000
Price Per Unit
$1,333,333
Cap Rate
5.6%

Listing Description

Avison Young has been exclusively engaged by Ownership to offer for sale 19 First Avenue, New York, NY (“the Property”), a four (4) story mixed-use property on First Avenue between First and Second Streets in the East Village neighborhood of Manhattan. The Property has a retail unit on the ground level, currently occupied by a renowned restauranteur, a one-bedroom apartment on the second level, and an expansive residential duplex on the third and fourth levels with private access to the finished rooftop, previously owner-occupied.

The Property has close to 1,200 square feet of unused air rights and is not located in a historic district, allowing a purchaser to complete a rear extension and/or penthouse addition. The building benefits from being in the protected tax class 2A, which limits future tax increases. The Property is one block from the Second Avenue subway entrance and is in close proximity to several public parks. The Property could be ideal for an end-user who could collect income from a stable retail tenant and second-floor resident while residing in the third and fourth floor duplex in one of the trendiest neighborhoods in Manhattan.

Property Details

Block/Lot:
443/36
Lot Dimensions
16.92 x 75.0
Lot Area
1,269 sq.ft
Zoning:
R7A
FAR as Built:
2.24
Max FAR:
4.0
Alexandra MaroldaAvison Young
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Sales & Transactions

AddressSale PriceSale DateProperty Type
302 EAST 12TH STREET$7,750,00007/10/2018Mixed Use
151 AVENUE A$9,500,00006/27/2018Mixed Use
116 SAINT MARKS$5,000,00005/22/2018Mixed Use
84 2 AVENUE$7,800,00005/16/2018Mixed Use
24 ST. MARKS PLACE$12,900,00005/03/2018Mixed Use
64 2 AVENUE$6,950,00002/28/2018Mixed Use
332 EAST 9TH STREET$9,600,00002/16/2018Mixed Use
58 ST MARKS PLACE$12,326,00011/17/2016Mixed Use
221 EAST 10TH STREET$10,025,00011/17/2016Mixed Use
341/2 SAINT MARKS PLACE$8,300,00010/28/2016Mixed Use