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This property is a 6 story walkup mixed use corner building located in the Lower East Side. The building has 6 stores, 26 apartments, 2 antennas occupying the roof. The additional income comes from an appliance surcharge to some of the apartments. Tenancies include 21 RS apartments, 3 RC tenants, 1 super’s apartment and 1 vacant apartment. More vacancies are also expected. Basement ceiling heights are approximately 8’-9’ while apartment ceiling heights are approximately 10’ high. The property has great potential for increase in the rents as the average of the rent stabilized/controlled apartments are $11.62/SF while free market apartments can rent for approximately $45/SF. There are also two vacant store spaces that can add considerable value to the property. The boiler uses #2 oil and has a 4000 gallon tank. This could be a great value opportunity and a stable income provider to an investor’s portfolio.

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Neighborhoods: Lower East Side/ Agents: Michael DeCheser, Robert Burton