Friday, February 12, 2010

Buy this 11th Street apartment building, where the residents "quiet, respectful of the property, orderly, and pay timely"

Quiet? Respectful? Orderly? When can I move in!? This 1900-era tenement on East 11th between Avenue B and Avenue C is fresh on the market for $6.7 million.

Per the listing:

Perfectly Renovated Pre-War 20 unit Building

Renovated units: (11) free market rents
#of two bedrooms: (5)
Annual rents: $ 405,900
Boiler: 3yrs.
Roof: 2yrs.

Real Estate Taxes: $26,000 approx.
Water and Sewer: $1200
Gas Tank size: 1,080

Potential rent increases (9) apartments

Maintenance is very low due to the number of renovated (11) apartments and the new systems.
Tenants are quiet, respectful of the property, orderly, and pay timely.

But are the bargoers walking back to wherever they came from as quiet and respectful?


Larry Slade said...

I saw an "Open House" sign on that building on 1st St BTW: 1 & 2 aves that was cleared out and is being renovated. They are still working but guess they have a unit ready to show.

VH McKenzie said...

If those Real Estate taxes AND Water/sewer figures are true, I'll eat my Metro card.

Our building is on 11th btw A & B, a co-op to be fair, but of similar size. Our RE taxes are DOUBLE that amount and we pay nearly $1200 for W/S every QUARTER.

Something's fishy.