Avison Young has been engaged by ownership as the exclusive agent to offer for sale the leasehold interest to 90-96 Barrow Street in the West Village neighborhood of Manhattan. Built in 1899 and located in a timeless landmark district on the north side of Barrow Street between Greenwich and Hudson streets, the four contiguous townhouses were sensitively redesigned and gut renovated in 2015 by Toll Brothers City Living (as part of its 100 Barrow street project), the four townhouses, all of which are occupied, range in size from 2,223 to 3,120 square feet with a total area of approximately 11,271 gross square feet. The townhouses offer the opportunity to live luxuriously in a historic surrounding, on an enchanting block in the heart of the West Village near waterfront parks, art galleries, the Whitney Museum of American Art, fine restaurants, boutique shopping, the Cherry Lane Theatre, and other entertainment venues.
The sale of the leased interest presents an attractive opportunity for two types of buyers; an investor wanting to own a market-rate property in a prime, stable submarket of Manhattan or a homeowner/investor who will live in one townhouse and rent the remaining three for investment income as a means to substantially reduce their cost of homeownership.
· Recently gut renovated townhouses in preeminent West Village market
· Asking price of $262/SF is well below average market prices that exceed $3,000/SF
· 100% leased
· Effective cost for homeowner of purchase reduced by investment income
· Predictable leasehold rent payments with floors and caps on rent increases
· High-end luxury finishes throughout each unit
· Homes each have well-crafted living rooms, dining rooms, gourmet kitchens and library/dens
· Oak wood floors throughout with gas burning fire places
· A total of 3 bedrooms, 4 baths and 1 half bath in each townhouse
· Landscaped backyard with custom deck