95 7th St New York, NY 10009-5732

Property Details for 95 7th St

Year built

1900

Lot size

0.05 lot acres

Property size

9,950 SF

Zone code

R8B

Property type

Retail residential properties

APN

00435-0056

APU

4350056

Description

This exceptional value-add opportunity presents a five-story, 9,950-square-foot apartment building located at 95 East 7th Street in the vibrant East Village of New York City. The property boasts 20 residential units and one commercial space, currently enjoying 100% occupancy. Built in 1900, this Class B building offers significant potential for increased returns. The asking price is $6,600,000, translating to $663.32 per square foot and $330,000 per unit. The property generates a strong net operating income (NOI) of $385,282, resulting in a compelling 5.84% capitalization rate. An existing $3,450,000 loan with JPMorgan Chase Bank is assumable, featuring an interest-only payment period until December 2029 with a fixed interest rate of 4.32%. After this period, the interest rate will adjust semi-annually. The building's prime location in the heart of the East Village, coupled with the recent signing of a new commercial tenant, ensures a stable and promising investment. This is a rare chance to acquire a well-performing multifamily asset in a highly sought-after New York City neighborhood with significant upside potential. The property is a walk-up building.