116 Macdougal St New York, NY 10012

Property Details for 116 Macdougal St

Year built

1900

Lot size

0.06 lot acres

Property size

9,950 SF

Zone code

R7-2

Property type

Retail residential properties

APN

00540-0007

APU

5400007

Description

This exceptional investment opportunity presents two contiguous, five-story walk-up apartment buildings totaling 21,790 square feet, situated in the heart of Greenwich Village, New York City. Built in 1900, the property boasts 38 units, including 24 free-market apartments (63% of the total), and four established retail tenants. The combined residential and retail space offers significant upside potential, with current rents approximately 20% below market value. The strong, diversified income stream includes a mix of residential and retail tenants, such as a high-end cocktail bar, hookah lounge, tattoo parlor, and a national cookie franchise. The property benefits from its prime location, steps from Washington Square Park and New York University, ensuring high foot traffic and strong tenant demand. Convenient access to multiple subway lines (1, 2, A, B, C, D, E, N, Q, R, W, 4, 6) further enhances its appeal. The asking price is $17,500,000, with a current NOI of $902,400 and a pro-forma NOI of $1,165,000, representing a 5.16% cap rate. The property is zoned R7-2, C1-5, and is being offered for sale by owner. This presents a rare chance to acquire a well-maintained, income-producing asset in one of Manhattan's most desirable neighborhoods. The property has been under the same ownership for 28 years.