| Location: |
On
the North side of East 3rd Street between
Avenue A and Avenue B. |
| Block/Lot: |
399/43 |
| Lot Size: |
24' x 96.2' (Approx.) |
| Lot Area: |
2309 sq. ft. (Approx.) |
| Stories: |
6 plus basement |
| Building Size: |
24' x 83' (Approx.) |
| Gross Sq. Footage: |
9,719 sq. ft. (Approx.) |
| Assessed Value: |
$ 426,420 (07/08) |
| Real Estate Taxes: |
$ 50,863 |
| Zoning: |
R7-2 |
| FAR: |
3.44 |
| Air Rights: |
No Air Rights |
| Built: |
1900 |
|
Description:
189 East 3rd Street is a 24' wide, 78' deep, mixed-use apartment
building with 16 apartments on 6 floors in the heart of the East
Village. It is comprised of approximately 8,784 gross square
feet on a lot measuring approximately 2,308 square feet. With
12 Rent Stabilized units, and 4 Free Market units, the building
is primarily rent regulated and is currently renting significantly
under-market. The unit breakdown is as follows: 5 2BR units,
6 1BR units, and 5 Studios. The gross annual income is $348,315,
with a net operating income of $274,238. The building has a new
gas boiler, new hot water heaters and new electric meters, and
the bar has a reasonable buyout clause. As the rent levels for
this building are significantly under-market, it represents an
excellent opportunity for an investor to realize significant
upside in Manhattan's fastest up and coming neighborhood. The
building has no violations. |
