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Type:
Mixed Use
Sq Ft:
5,535
Units:
Property Description
Investment Property Realty Group (IPRG) has been exclusively retained to market for sale 108 1st Avenue, a mixed-use property located in the highly desirable East Village neighborhood of Manhattan.
The property consists of four (4) residential apartments and one (1) ground-floor retail space. Due to the limited residential unit count, the building is statutorily deregulated, providing investors with the flexibility to adjust rents in line with market conditions and inflation.
The asset has recently undergone a comprehensive gut renovation, including all new electrical and plumbing systems. Each residential unit is thoughtfully outfitted with in-unit washer/dryers and dishwashers, offering modern convenience and strong appeal to tenants.
The retail space is currently leased to UPS at a below-market rent, presenting a compelling opportunity for future income growth. Upon lease expiration in 2030, ownership has the potential to significantly increase rental income, with projections indicating the ability to at least double the current rent.
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Block & Lot:
00434-0005
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Neighborhood:
East Village
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Cross Streets:
East 6th Street & East 7th Street
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Building Dimensions:
21 ft x 70 ft
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Lot Dimensions:
21.25 ft x 70 ft
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Units:
5
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Total Approx. SF:
5,535
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Zoning:
R7A, C2-5
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FAR:
4.0
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Tax Class:
2A
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West Village, Manhattan, New York
314 WEST 14TH STREET: LOWER LEVEL, 4TH & 5TH FLOOR
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