New York, NY 10009
- Sq. Ft: 17,478
- Residential Units: 28
- Commercial Units: 2
- PRICE PER SQ. FT: $801
John J. Stewart & Associates of Marcus & Millichap was the exclusive sales broker for 332-334 East 4th Street, a six-story walk-up apartment building between Avenues C and D in the East Village.
The subject property measures 44 feet by 72 feet totaling approximately 17,478 square feet and sits on a 45.17 foot by 96.17 foot R8B-zoned lot (maximum 4 floor area ratio). There are approximately 1,100 additional developable square feet, and the building is neither landmarked nor part of an historic district.
The subject property contains twenty-eight apartments and two ground floor commercial units. The apartments are comprised of twenty-three two-bedrooms and five three-bedrooms (5-line) of which 100% are rent stabilized. four apartments will be delivered vacant. The two commercial units have month-to-month leases.
Four apartments and the two commercial units will be delivered vacant. Over the ownership period, the majority of the apartments have been upgraded and modernized including new bathrooms, kitchens, windows and floors.
The subject property will allow new ownership to expand within or enter into the East Village, a core Manhattan neighborhood with historically low vacancy, steady residential and commercial rent growth and that is in high demand by students and younger residents for its affordability and extensive retail options.