This property is located between Jones Street and Cornelia Street on one of the best blocks in Greenwich Village. The property is built 23 ft x 78 ft offering approximately 5,250 square feet. It sits on a 23 ft x 80 ft lot and is zoned R7-2, C1-5. The property is located in the protected tax class 2A. This tax class is the most desirable in today’s market as tax increases are capped at 8% annually.
The property features 4 gut renovated, free market apartments and 1 store. The ground floor is currently vacant and was previously occupied by Davids Tea. Unit 1 is a 400 SF, one bedroom apartment located behind the retail store. To maximize the income per foot, an investor can reposition the ground floor by combining the one bedroom apartment with the retail unit. Unit 2 and Unit 3 are floor through, 4-bedroom apartment with roof decks. Unit 4 is a floor through, 3-bedroom apartment with a roof deck.
The current owners purchased the building in 2016 and carried out a true gut renovation which included rebuilding of the interior structural walls to ensure stability, re-bricking on the back section of the building, configuring brand new electrical and plumbing, eliminating gas lines, putting HVACs in each unit, and constructing a new staircase, roof-decks, parapet walls and top floor skylight.
The property is located within walking distance to the A, C, E, B, D, F, M and 1 subway lines, offering quick and easy access throughout Manhattan. It is also within walking distance to an array of strong retail along Bleecker Street. The property is within walking distance from neighborhood hotspots like Buvette, One if by Land Two if by Sea, John’s of Bleecker Street, Blind Tiger, Boucherie West Village, Tacombi and Bleecker Street Pizza among others. It is also in close proximity to all the new bars, restaurants, cafes, and artisan shops that Greenwich Village has to offer.
This property offers prospective investors the incredibly rare opportunity to acquire a gut renovated, free market, cash flowing property on one of Manhattan’s most desirable blocks.
The transactions and closing statistics referenced throughout this website include historical results procured by individual real estate brokers and real estate salespersons currently on our team while they were affiliated with a brokerage other than Bestreich Realty Group LLC. Bestreich Realty Group LLC does not claim any credit or affiliation with these transactions.