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Multifamily

1672 3rd Ave

1672 3rd Ave, New York, NY 10128

Listing Price: $10,995,000

Cap Rate
5.50%
Number of Units
17
GRM
17.09
Price/Unit
$646,765
Price/Gross SF
$1,013.83
Gross SF
10,845

Investment Overview

THE OPPORTUNITY:
Profile: 10,845 Square Foot Mixed-Use Building
Flexibility: 88% Free Market (14/16 Residential Units)
Unit Mix: 
1 Retail Unit
10 one-bedroom apartment
6 two-bedroom apartments
Condo Level Finishes: Apartments feature recent renovations with high-end renovations.
Efficient: Residential Tenants Responsible for Electric, Fuel, & Hot Water Ultimately Reducing Costs.
Strong Retail: 7 Years remaining, 3% Annual Increases, & Responsible for 60% Tax Increases over the 2020/2021 Base Year
Accessible Transportation: Located only blocks away from the 6, N, and Q trains

Investment Highlights

  • Profile: 10,845 Square Foot Mixed-Use Building Unit Mix:  1 Retail Unit 10 one-bedroom apartment 6 two-bedroom apartments Flexibility: 88% Free Market (14/16 Residential Units)
  • Flexibility: 88% Free Market (14/16 Residential Units) Strong Retail: 7 Years remaining, 3% Annual Increases, & Responsible for 60% Tax Increases over the 2020/2021 Base Year
  • Condo Level Finishes: Apartments feature recent renovations with high-end renovations. Efficient: Residential Tenants Responsible for Electric, Fuel, & Hot Water Ultimately Reducing Costs.

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

1672 3rd Ave

Listing Price: $10,995,000

Cap Rate
5.50%
Number of Units
17
GRM
17.09
Price/Unit
$646,765
Price/Gross SF
$1,013.83
Gross SF
10,845

Investment Highlights

  • Profile: 10,845 Square Foot Mixed-Use Building Unit Mix:  1 Retail Unit 10 one-bedroom apartment 6 two-bedroom apartments Flexibility: 88% Free Market (14/16 Residential Units)
  • Flexibility: 88% Free Market (14/16 Residential Units) Strong Retail: 7 Years remaining, 3% Annual Increases, & Responsible for 60% Tax Increases over the 2020/2021 Base Year
  • Condo Level Finishes: Apartments feature recent renovations with high-end renovations. Efficient: Residential Tenants Responsible for Electric, Fuel, & Hot Water Ultimately Reducing Costs.

Investment Overview

THE OPPORTUNITY: Profile: 10,845 Square Foot Mixed-Use Building Flexibility: 88% Free Market (14/16 Residential Units) Unit Mix:  1 Retail Unit 10 one-bedroom apartment 6 two-bedroom apartments Condo Level Finishes: Apartments feature recent renovations with high-end renovations. Efficient: Residential Tenants Responsible for Electric, Fuel, & Hot Water Ultimately Reducing Costs. Strong Retail: 7 Years remaining, 3% Annual Increases, & Responsible for 60% Tax Increases over the 2020/2021 Base Year Accessible Transportation: Located only blocks away from the 6, N, and Q trains

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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