Manhattan Apartment Building for sale

Product Description

FOR SALE Asking Price: $*2, **0, **0 Submit all offers. NEGOTIABLE! Unprecedented historic appreciation at this location! TRENDY, HOT, EAST VILLAGE SECTION OF MANHATTAN EAST THIRD Street, MANHATTAN, New York ****3 (Between First Avenue and Second Avenue) DESCRIPTION: 6 story brick walk up apartment building plus basement containing *0 apartments and 2 retail stores. PLOT SIZE: *5' x **3’ BUILDING SIZE: *5' x *0' =8, **0+/- SF including **3sf roof duplex up expansion rights. LAYOUT: *0/3's (1 bedrooms) and 2 retail stores currently rented as apartments. TOTALS: *2 UNITS consisting of: *0 apartments containing *3 rooms, plus 2 retail Stores converted to apartments containing approximately 1, **0 square feet as well as a basement. Zoning: C**2 FAR: 3.*4 GROSS INCOME: (Current actual or based on prior actual) $**3, **6 Projected Rent Stabilized Escalations average 1 & 2 year lease renewals = 6.5% 4.5% 1yr 8.5%/2Yr. $ *9, **3 TOTAL Actual and Projected Gross Income: $**2, **9 Estimated EXPENSES: Real Estate Taxes $*3, **0 (*8’/*9’) Water and Sewer *1, **0 Fuel (Type #4 OIL) *0, **0 New Fuel Saving Heat Timer Insurance 5, **0 Utilities (hallway & basement electric) 1, **0 Superintendent 3, **0 Visiting superintendent Repairs, Maintenance & supplies 5, **0 Management Fees (0%)TOTAL ESTIMATED EXPENSES: 0 (NONE - self managed)($*8, **0) PROJECTED Estimated NET INCOME: $ **7, **2 REMARKS: EXCELLENT EAST VILLAGE LOCATION! Overall Condition: VERY GOOD New windows, new roof, many renovated apts. Built pre-certificate of occupancy SOLD SUBJECT TO EXISTING VIOLATIONS. As of right available to build a rooftop **3sf expanded duplex and raise rental unit value by $*8, **0 = $**2, **0/YEAR FUTURE TOTAL POTENTIAL INCOME. Exterior drive by inspections only with interior inspection by APPOINTMENT ONLY AFTER SERIOUS INITIAL OFFER.