Tuesday, September 22, 2020

47 St. Mark's Place is for sale for the first time in 50 years

This five-story building at 47 St. Mark's Place recently arrived on the rental market. As the Times noted last week, the property on the great block between First Avenue and Second Avenue last changed hands 50 years ago.

The property consists "of 6 one-bedroom and 2 two-bedroom apartments. The property is built 25 feet by 63 feet and sits on a 25 foot by 93.92 foot lot with approximately 7,990 gross square feet. The property is zoned R8B allowing for approximately 1,409 gross square feet of available air rights.
The asking price: $6.5 million.

1 comment:

Anonymous said...

If they can get $2,000/mo for the 1BRs and $3,000/mo for the 2BR's, the $6.5 million investment will pay off in 31 years. But of course that does not count any taxes or upkeep expenses incurred by the owner.

Great deal!