The Reel

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49.17' wide, 6 story, approximately 15,000 square foot walk-up apartment building. The building consists of 29 units (of which 20 are one-bedrooms 8 are two-bedrooms, and 1 is a three-bedroom) plus a super’s unit in the basement. The average residential rents are $1,561/month or $44/nsf, which is substantially under market by 50%. The building has 5 rent stabilized units, 5 rent controlled units,18 free market units, and 1 vacant unit. The building also has 2 small retail spaces. This is an excellent opportunity for an investor who is looking for strong-in place cash flow with long-term upside in the below market rents.

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Neighborhoods: Greenwich Village