Monday, September 21, 2015

Condo conversion or single-family home among the possibilities for 35 E. 7th St.

The townhouse between Second Avenue and Cooper Square is new to the market.

Here's a look at the listing from Halstead:

...the location couldn't be better for an end-user, investor, or developer looking for an opportunity in the heart of one of the most sought-after parts of the city. Located just a half block east of charming Cooper Square and less than 400' from 2nd Ave, the property is a perfect centerpiece to the vibrant neighborhood. With turn-of-the-century details on a shady section of the street, you'd be hard pressed to find a more quintessential downtown Manhattan property with substantial upside.

The 25' wide property consists of 5 units, 4 of which are free market and 1 of which is rent controlled. Two of the free market tenants have no lease. With a max FAR of 4, the property offers approximately 2,000 additional buildable SF. Unlock substantial upside via increased rents and/or additional rentable square footage, take advantage of this prime condo conversion opportunity, or convert to an incredible single family home.

Price: $5.7 million

No. 35 is the second townhouse on this block to hit the market this past week, joining No. 25.


Anonymous said...

How can a beautiful building and block like this one not be landmarked?

Gojira said...

Because the LPC is useless, an utter joke.