Thursday, September 17, 2015

25 E. 7th St. is for sale



Here are the details from the Cushman & Wakefield listing:

A 26’ wide, five-story, multi-family walk-up building located on the north side of East 7th Street between Cooper Square and 2nd Avenue. The building consists of nine residential units, of which three are rent-stabilized, one is rent-controlled, and five will be delivered vacant.

The average in-place rent of the rent-regulated units is approximately $22 per square foot which is only a fraction of market. A majority of the units are large one-bedrooms that could be converted to two-bedrooms or front-back units.

There is also dramatic upside in renovating the free market units, one of which can be converted into a duplex unit with garden access, to attain market rents. The building is located steps from The Cooper Union’s new building and around the corner from trendy East Village eateries such as The Mermaid Inn and Narcissa.

Asking price: $8.95 million

Image via Cushman & Wakefield

5 comments:

Anonymous said...

I use to think the destruction of the EV was like watching a train crash in slow motion. It appears to approaching light speed now.

BelowGrand said...

You might like to mention when a building is in the LES/East Village Historic District. That gives the exterior of the building protection from inappropriate alteration. 25 East 7th Street dates to 1880. The architect was Jobst Hoffmann. 27 and 29 East 7th Street were also designed by Hoffmann. These three buildings were noted in the Designation Report to be identical.

~evilsugar25 said...

615 E 6th St. "Townhouse" just went up for sale... looks like part of a "package deal" http://www.corcoran.com/nyc/Listings/Display/3481495

EV Grieve said...

Thanks ~evilsugar25

Missed this one... just found a listing for it dated July 26 in the Times....

Ned Henry said...

what anonymous said...