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    327 17Th St New York, NY 10003

    Sponsored
    For Sale
    $6,950,000

    16-unit apartment building, prime location.

    Property size:
    10,208 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional value-add opportunity presents a 6-story, 10,208 square foot elevator building situated on a 22-foot wide lot in Manhattan's desirable Gramercy Park neighborhood. Located on the north side of East 17th Street, between First and Second Avenues, this property enjoys a prime location directly across from Stuyvesant Square Park. The building, previously utilized as a residential treatment facility by Beth Israel Hospital, is currently vacant, offering significant upside potential. The ground floor features office/lobby space and a rear patio. Floors two through six each contain three one-bedroom units, sharing a single and a half bathroom. Each floor has two front-facing and one rear-facing bedroom. The building boasts 16 units in total, with a lot size of 2,024 square feet and 4,000 square feet of available air rights. This presents a unique opportunity to capitalize on the building's potential. The property benefits from excellent accessibility, being just two blocks from the First Avenue L train station and a short walk from the 14th Street – Union Square station (4, 5, 6, and L lines). Its proximity to Gramercy Park, Friends Seminary School, and the vibrant culinary and retail scenes of Union Square and the East Village further enhances its desirability. The asking price is $6,950,000, translating to $680.84 per square foot and $434,375 per unit. The permitted zoning is R8A.

    Property Features for 327 17Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    10,208 SF

    Building Details

    Buildings
    1
    Stories
    6
    Units
    16
    Property Profile Location Intelligence

    Current Use by Public Records

    Birenbaum Ellen MD Internist Robert Mapplethorpe Residential Non-Profit Organization Former Residence of Composer ... Tourist Attraction Mount Sinai Beth ... Medical Clinic

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9823427
    Latitude
    40.7339147

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    FAQs

    What type of property is this?
    Multifamily property - 16-unit apartment building, prime location.
    Where is this multifamily property located?
    The property is located at 327 17Th St New York, NY.
    What is the asking price?
    The asking price for this property is $6,950,000.
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    327 17Th St New York, NY 10003
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    327 17Th St New York, NY 10003
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