This offering consists
of 2 prime mixed-use buildings in the heart of Greenwich Village with a total of
85 apartments and 5 stores.
The buildings at 7-11 Cornelia Street are a
5-story, elevatored apartment building and a carriage house which currently
contain 48 apartments plus two commercial spaces. They are 100% occupied. The
buildings are made up of studios, 3 room units and 1 bedrooms units which
average approximately $43/NSF. Of the 48 units, 17 are rent regulated and 31 are
fair market.
The building at 102 Christopher Street is a 5-story,
walk-up apartment building. The building has 37 apartments plus three commercial
spaces including rag & bone and MZ Wallace. The residential units are made
up of 1 studio apartment, 25 one bedrooms, and 11 two bedrooms which have rents
of $48/NSF. Of the 37 units 10 are rent regulated and 27 are fair market.
The property benefits from several upgrades including the common spaces,
repointing, and newer roofs. This is an excellent opportunity for an investor
who is looking for strong in-place cash flow with upside potential from the
below market rent regulated rents.
Click here for listing details.
Neighborhoods: Greenwich Village