Thursday, July 3, 2014

East 8th Street townhouse back on the market, now seeking $4.5 million


[Image via Leslie J. Garfield]

The townhouse at 356 E. Eighth St. between Avenue C and Avenue D is back on the market. Last time around, the house, not yet vacant, wanted $3.75 million. But times have changes. And so has the price and occupancy.

Per the listing at Leslie J. Garfield:

536 East 8th Street is a vacant townhouse situated between Avenue C and Avenue D. With an allowed FAR of 4.0, the building offers prospective purchasers the chance to develop the property to approximately 7,200 square feet.

The property is currently configured as a garden duplex with two floor-through units above measuring approximately 3,000 square feet. With a rapidly growing condominium and home sales market in the East Village/Alphabet City, the opportunity to develop either high-end apartments or a luxury home for use or resale is strong. Incredibly low taxes on the property make the opportunity for development additionally appealing.

4 comments:

Anonymous said...

how come nobody ever buys these and then keeps them, instead of making high rises? seems like a much more valuable (and rare) property in the long run.

Gojira said...

Bye-bye.

Goggla said...

Wasn't this flooded during Sandy? I assumed that was why a canoe appeared in the front garden.

Anonymous said...

I am stunned anyone wants these properties, with this area being flooded when we have storms and the rising water levels. Two million dollar condos on Ave D? This weekend we are once again threatened with flooding... do people forget so quickly?