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Type:
Mixed Use
Sq Ft:
7,810
Units:
Property Description
Investment Property Realty Group (IPRG) has been exclusively retained by ownership to market 106 Avenue B, a mixed-use building located in the East Village neighborhood of Manhattan.
The property is fully rent stabilized and consists of eight residential apartments and two ground-floor retail units. The building benefits from a low annual tax bill of $16,423, resulting in a below-average expense ratio and strong in-place cash flow.
106 Avenue B is being offered at $384 per square foot, well below replacement cost, and provides investors with an attractive 6.67% capitalization rate. The property will be delivered free of the AEP program, offering a clean path forward for future ownership.
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Block & Lot:
0402-36
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Neighborhood:
East Village
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Cross Streets:
East 7th Street and Avenue B
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Building Dimensions:
30 ft x 52 ft
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Units:
10
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Total Approx. SF:
7,810
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Total Approx. BSF:
7,500
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Zoning:
R7A
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FAR:
4.0
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Tax Class:
2B
