Tuesday, December 5, 2017

65 E. 2nd St. now with a little off the ask



Back in July 2016, we wrote about 65 E. Second St., the charming townhouse for sale between First Avenue and Second Avenue across from the New York City Marble Cemetery.

At the time, the asking price was $5.75 million.

Leslie J.. Garfield still has the listing... the ask is now $5.2 million. Here's the listing to refresh your memory (pay attention to Apt. 3!):

[T]his 4,600 square foot townhouse has been fully gut renovated into three gracious apartments overlooking the Marble Cemetery, the oldest public cemetery in New York City.

Originally built c. 1834 as a Greek Revival-style row house with cast-iron stoop posts and hand-railings, basket-style iron fire escape, rope moldings and historic wood casement windows and transoms.

65 East 2nd Street is located in the prime East Village, on the cusp of NoHo and the Lower East Side, surrounded by new condominium developments, cafes, boutique shops, and trendy restaurants. This turnkey townhouse is suitable for both end-users and investors alike, with the ability to move into the owner’s duplex with incredibly low annual expenses (Tax Class 2B and tenant paid utilities), while offering longterm upside in a rapidly developing neighborhood.

APT 1: Currently configured as a three-bedroom, three bath garden duplex featuring Central Air-Conditioning, custom chef ’s kitchen and cabinetry, high-end finishes, washer/dryer and two private outdoor spaces. Current tenant pays $8,750 per month. Lease Expires August 2018.

APT 2: Currently configured as a fully renovated three bedroom, two bath apartment featuring central air conditioning, gut renovated kitchen and bathrooms, 11’ ceiling heights, and unobstructed, sunlit views north. Current tenant pays $6,600 per month. Lease Expires July 2018.

APT 3: Occupied by a life-tenancy, this apartment is currently configured as a fully renovated three bedroom, two bath apartment featuring central air conditioning, gut renovated kitchen and bathrooms, 9.5’ ceiling heights, and unobstructed, sunlit views north. Tenant pays $500 per month in perpetuity.

... and two interior shots and the front view...





7 comments:

Donnie Moder said...

Life tenancy. Very hard to plan an investment with 1/3 of it conditioned on a extremely low paying life tenant. It looks like a roll of the dice.

Donnie Moder said...

Looking at the listing, it is less than a third in life tenancy, more like 25%. Interesting property in a great locale.

Goggla said...

I think of Apt #3 and drool every time I walk past this place. I'm so jealous!

Anonymous said...

Wow those prices are insane

Anonymous said...

I walked past it today. There's work going on. The entrance is in really bad shape, needs major work, so not at all a positive initial impression!

Anonymous said...

Why not just buy out the life tenant for a mil?

Anonymous said...

!11:45am: You're assuming the life tenant could get that deal ANYWHERE in Manhattan for $1 million - when they're living in a THREE BEDROOM, TWO BATHROOM apartment with central air conditioning for $500/month? Tell me where in Manhattan that $1 million would let them live in the same amount of space, please! STUDIOS are going for north of $600,000 in many places!

If I were that tenant, I'd be there until my dying breath, and the EMT's could carry my body out feet-first.