151 Avenue A New York, NY 10009

Property Details for 151 Avenue A

Year built

1900

Property size

9,634 SF

Property type

Apartment buildings

Description

This exceptional 10-unit apartment building, located at 151 Avenue A in New York City's vibrant East Village, presents a compelling investment opportunity. The property boasts 9,634 square feet and sits on a 26' x 113' lot (Block: 437 Lot: 28), with a building footprint of 26' x 72'. Constructed in 1900, this five-story building is currently zoned R72 and offers a strong net operating income (NOI) of $710,547, resulting in a 5.92% cap rate. The asking price is $12,000,000, or $1,200,000 per unit, and the price per square foot is $1,245.59. All 10 units are fully renovated with high-end finishes, including hardwood floors, stainless steel appliances, dishwashers, two full marble bathrooms, in-unit washer/dryers, and abundant natural light. The building benefits from a tax class 2B designation, limiting annual tax increases to 8% or 30% over five years. The current tax bill is approximately $65,000. Its prime location in the heart of the East Village offers unparalleled convenience, with easy access to Tompkins Square Park, Astor Place, Union Square, NYU, Whole Foods, and a plethora of restaurants and nightlife. Excellent public transportation is readily available via nearby subway lines (6, N, & R) and bus service (M14A). This is a rare opportunity to acquire a fully renovated, high-performing multifamily asset in one of Manhattan's most desirable neighborhoods.