183 Avenue B
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183 Avenue B
183 Avenue B
183 Avenue B
183 Avenue B
183 Avenue B
Sold

183 Avenue B

183 Avenue B, New York City, NY 10009

$4,750,000
Manhattan | Brooklyn

Peter Comitini

Corcoran Group

Licensed Associate Real Estate Broker

Acquire a classic East Village, mixed-use building, with unbelievably low taxes of $4029 annually. The building features six income producing studio apartments over a vacant retail store ready for immediate occupancy, a large garden, and substantial build-able air rights. The residential portion is fully occupied, providing income from day one, with all tenants on one-year 'free-market' leases. The retail component is in the heart of the East Village and a short walk from densely populated Stuyvesant town. For a user it's exceptional - the store will be delivered vacant, allowing for immediate operation. 183 Avenue B has the potential to be almost doubled in size with 3400 SF of additional build-able air rights and no landmark restrictions, making it an ideal live/work opportunity. Gut renovated four years ago, this is a clean, solid investment asset, with room to grow. Financials: Income: $199,500 Expenses: $22,994 NOI: $176,506 Cap Rate: 3.7%

Features & Amenities

Area & Lot

  • Status Sold
  • MLS® IDCORC-3852248
  • TypeTownhouse
  • YEAR BUILT1910
  • NeighborhoodThe Village
  • Architecture StylesPrewar

Financial

  • Sales Price$4,750,000
Map

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—Peter Comitini

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Sad news that Macy’s Brooklyn on Fulton Street is closing. The original location of Abraham and Strauss. It is a building with a storied past. Part of a 30% reduction in the retail footprint of the Macy’s chain, which recently rejected a $6.9 billion buyout offer. It was reportedly sold at the fire sale price of $23 million dollars to a group of investors, with Thor equities recently buying a position according to the New York Post. Truly the end of an era in the shaping of Downtown Brooklyn.
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