However, the listing for the building between Avenue C and Avenue D didn't have a price listed.
According to Crain's, the asking price is $26.3 million. And this is being billed as a deal, at least according to the broker, Cushman & Wakefield's James Nelson.
Mr. Nelson noted that the building, even though it is newly constructed, will likely sell at a discount, per square foot, compared with a recently sold prewar walk-up in the neighborhood at 117-119 E. Seventh St. That building sold for about $1,300 per square foot in June. Mr. Nelson is expecting to fetch less than that amount for 316-318 E. Third St.— about $1,100 per square foot.
Why? Because in the older buildings, new landlords are converting the one-bedroom places into two-bedroom units; two-bedroom units into three ... well, you get the idea.
"Living rooms are a fast-disappearing amenity in apartments in the East Village and other neighborhoods where young renters like to go," Mr. Nelson said. "Living rooms don't create revenue, but bedrooms do. That's why my building is unexpectedly cheaper. It has living rooms."