A five story walk-up Greenwich Village apartment building with two stores and nine apartments. There is upside in the two retail stores which currently pay only $72/nsf and $139/nsf in a neighborhood which commands $150.
In four years, it might be possible to combine the shoe store and the rear apartment to create about 1,150 square feet of retail with outdoor space.
The residential units above, which are all 2 or 3 bedrooms, are extremely spacious. The property has strong in place cash flow with upside making it an extremely desirable investment.
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Neighborhoods: Greenwich Village/ Agents: Michael DeCheser