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Multifamily

151 Avenue A

151 Avenue A, New York, NY 10009

Listing Price: $12,000,000

Cap Rate
6.00%
Number of Units
10
GRM
17.56
Price/Unit
$1,200,000
Price/Gross SF
$1,245.59
Gross SF
9,634

Investment Overview

THE OFFERING

The New York Multifamily team of Marcus and Millichap is pleased to exclusively offer for sale 151 Avenue A, which is located in the heart the East Village. Located on the West side of Avenue A between East 9th and East 10th Streets, this 10-unit tax class protected multifamily property is comprised of approximately 10,000 square feet. The property sits on a 26’ x 113’ lot (Block: 437 Lot: 28) and is built 26’ x 72’. The property is zoned R7A.

THE OPPORTUNITY

Tax Class Protected 2B: Tax increases capped at 8% year over year or 30% over any given 5-year period. Current Tax Bill is approximately $65,000, only 8% of in-place Gross Income.
100% Free Market: All 8 residential units are Free-Market, allowing new ownership to take advantage of the robust rental market in the East Village.
High End Finishes: All units are fully renovated with condo level finishes throughout. Finishes in all units include Hardwood Floors, Stainless Steel Appliances, Dishwasher, Two Full Marble Bathrooms, Tons of Natural Light, In-Unit Washer/Dryer.
Location & Transportation: Located in the Heart of the East Village, 151 Avenue A has a Natural Strong Demand Given its Centralized Location just steps from Tompkins Square Park and Access to all the Neighborhood has to Offer. This creates a strong demand of renters and tenants given endless supply of restaurants, nightlife, parks, shopping, and transportation. The properties’ nearby attractions include Tompkins Square Park, Astor Place, Union Square, NYU, Whole Foods and more. Top restaurants nearby include Cafe Mogador, The Bao, Oiji, Emmy Squared, Cacio E Pepe, Lavagna, Nowon, Buenos Aires and too many more to name. Just a short walk from Astor Place Subway stations, around the corner from the M14A Bus Service and minutes to the 6, N, & R subway lines.

Investment Highlights

  • Tax Class Protected 2B: Tax increases capped at 8% year over year or 30% over any given 5-year period. Current Tax Bill is approximately $65,000, only 8% of in-place Gross Income.
  • 100% Free Market: All 8 residential units are Free-Market, allowing new ownership to take advantage of the robust rental market in the East Village.
  • High End Finishes: All units are fully renovated with condo level finishes throughout. Finishes in all units include Hardwood Floors, Stainless Steel Appliances, Dishwasher, Two Full Marble Bathrooms

Exclusively Listed By

  • Joe Koicim

    Licensed Associate Real Estate Broker

    (212) 430-5147

    Email Joe

    License(s): NY: 10311201039, NY: 10301208718

    Manhattan

  • Logan Markley

    Licensed Real Estate Salesperson

    (212) 430-5194

    Email Logan

    License(s): NY: 10401268674

    Manhattan

Financing By

Multifamily

151 Avenue A

Listing Price: $12,000,000

Cap Rate
6.00%
Number of Units
10
GRM
17.56
Price/Unit
$1,200,000
Price/Gross SF
$1,245.59
Gross SF
9,634

Investment Highlights

  • Tax Class Protected 2B: Tax increases capped at 8% year over year or 30% over any given 5-year period. Current Tax Bill is approximately $65,000, only 8% of in-place Gross Income.
  • 100% Free Market: All 8 residential units are Free-Market, allowing new ownership to take advantage of the robust rental market in the East Village.
  • High End Finishes: All units are fully renovated with condo level finishes throughout. Finishes in all units include Hardwood Floors, Stainless Steel Appliances, Dishwasher, Two Full Marble Bathrooms

Investment Overview

THE OFFERING The New York Multifamily team of Marcus and Millichap is pleased to exclusively offer for sale 151 Avenue A, which is located in the heart the East Village. Located on the West side of Avenue A between East 9th and East 10th Streets, this 10-unit tax class protected multifamily property is comprised of approximately 10,000 square feet. The property sits on a 26’ x 113’ lot (Block: 437 Lot: 28) and is built 26’ x 72’. The property is zoned R7A. THE OPPORTUNITY Tax Class Protected 2B: Tax increases capped at 8% year over year or 30% over any given 5-year period. Current Tax Bill is approximately $65,000, only 8% of in-place Gross Income. 100% Free Market: All 8 residential units are Free-Market, allowing new ownership to take advantage of the robust rental market in the East Village. High End Finishes: All units are fully renovated with condo level finishes throughout. Finishes in all units include Hardwood Floors, Stainless Steel Appliances, Dishwasher, Two Full Marble Bathrooms, Tons of Natural Light, In-Unit Washer/Dryer. Location & Transportation: Located in the Heart of the East Village, 151 Avenue A has a Natural Strong Demand Given its Centralized Location just steps from Tompkins Square Park and Access to all the Neighborhood has to Offer. This creates a strong demand of renters and tenants given endless supply of restaurants, nightlife, parks, shopping, and transportation. The properties’ nearby attractions include Tompkins Square Park, Astor Place, Union Square, NYU, Whole Foods and more. Top restaurants nearby include Cafe Mogador, The Bao, Oiji, Emmy Squared, Cacio E Pepe, Lavagna, Nowon, Buenos Aires and too many more to name. Just a short walk from Astor Place Subway stations, around the corner from the M14A Bus Service and minutes to the 6, N, & R subway lines.

Exclusively Listed By

  • Joe Koicim

    Licensed Associate Real Estate Broker

    (212) 430-5147

    Email Joe

    License(s): NY: 10311201039, NY: 10301208718

    Manhattan

  • Logan Markley

    Licensed Real Estate Salesperson

    (212) 430-5194

    Email Logan

    License(s): NY: 10401268674

    Manhattan

Financing By

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