| Location: |
On
the North side of East 3rd Street between
Avenue A and Avenue B. |
| Block/Lot: |
399/47 |
| Lot
Size: |
50'
x 96.2' (Approx) |
| Lot
Area: |
4,772
Sq Ft (Approx) |
| Stories: |
6
stories plus basement |
| Building
Size: |
50'
x 82' (Approx) |
| Gross
Sq. Footage: |
19,600
Sq Ft (approx) |
| Assessed
Value: |
$594,000
(08/09) |
| Real
Estate Taxes: |
$70,852
(08/09) |
| Zoning: |
R7-2 |
| FAR: |
3.44 |
| Air
Rights: |
No
Air Rights |
| Built: |
1900
/ Altered in 1987 |
| Units: |
32
Residential, 6 Commercial |
|
Description:
179
East Third Street is a truly prime mixed-use property in one
of the fastest growing neighborhoods in Manhattan. The building
has excellent retail space, with tremendous upside due to the
month/month lease structure and the flexibility of configuration,
as all of the retail spaces can easily be connected for contiguous
operation as leases expire. There are 32 residential units (19
FM, 11 RS & 2RC) with tremendous upside in future earnings
due to the combination of recapturing the stabilized units augmented
by the already excellent in-place free market rents. Many of
the apartments have benefited from gut-renovations, such as apartment
#2/3 which is a double apartment with 2 designer bathrooms and
a gourmet kitchen. In total, there are 8-contiguous 2BR apartments
available in the building for personal or combined business use.
The 3 commercial stores are contiguous and the 3 offices are
all connected. In addition, the property has a new gas boiler,
a new water heater, a new roof, and side/rear yard space.
|
