Tuesday, January 10, 2017

183 Avenue B, with potential to double in size, is for sale



The building between 11th Street and 12th Street just arrived on the market.

Here's the listing via Corcoran:

Acquire a classic East Village, mixed-use building, with unbelievably low taxes of $4029 annually. The building features six income producing studio apartments over a vacant retail store ready for immediate occupancy, a large garden, and substantial build-able air rights. The residential portion is fully occupied, providing income from day one, with all tenants on one-year 'free-market' leases.

The retail component is in the heart of the East Village and a short walk from densely populated Stuyvesant town. For a user it's exceptional — the store will be delivered vacant, allowing for immediate operation. 183 Avenue B has the potential to be almost doubled in size with 3400 SF of additional build-able air rights and no landmark restrictions, making it an ideal live/work opportunity. Gut renovated four years ago, this is a clean, solid investment asset, with room to grow.

The asking price: $4.750 million.

Several years back, there were reports of damage to No. 183 during the never-ending construction next door of the luxury rentals known as The Hub.

9 comments:

Anonymous said...

When they say "potential to be almost doubled in size with 3400 SF of additional build-able air rights" they must be suggesting a new build at 7 stories which I doubt is possible at this location due to it's footprint. Living just around the corner I will lose my mind if this building is demolished and I have to endure 2 more years of construction. In the past 3 years our block has endured the dust, dirt and noise from new builds on 11th street, 13th street, the gray brick next to this building took 3 years to complete and it still is vacant.

Anonymous said...

The Corcoran Group is selling buildings on Avenue B. I'm letting that sink in. (I know I shouldn't be surprised. I know.)

Anonymous said...

The quote Commenter #1 points out continues with "... and no landmark restrictions..." shows we need to fight for more protections.

Anonymous said...

@10:06
Agree however a building like this one would never be considered for landmark preservation, beautiful, historic and well placed buildings are too often the targets of greedy developers and subservient elected officials. It is the simple tenements which give this neighborhood it physical character may be the next target as bigger firms look for developable land. Nothing is above demolition when enough money is at play.

Gojira said...

This is absolutely shameful; I am sick of our city being pimped out to the highest bidder and stripped of the (ever-lessening) things that make it pleasing to look at. Will we never again get a politician who cares about something other than campaign donations from developers?

Anonymous said...

Yeah....meanwhile back at the ranch there are posted signs stating that it will also be the new home of a community church? ????

Anonymous said...

The $4,000 annually in taxes must be a mistake.

Pinch said...

For $4.475 you could also pick up a 1,621 square foot two-bedroom, two and a half bath penthouse at Steiner East Village. Or just buy both.

Scuba Diva said...

At 11:09 AM, Gojira said:

Will we never again get a politician who cares about something other than campaign donations from developers?

Never, ever, ever. Sorry.