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605 East 11Th Street Multifamily Building for SALE

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605 East 11Th Street Multifamily Building for SALE 605 East 11th Street East Village New York, NY Multifamily Building FOR SALE ❖ INVESTMENT HIGHLIGHTS o Property address 605 East 11th St (East Village) o Lot area 2,559 sf o Building built-up area 9,718 sf o Zoning Residential district o Residential FAR 4 (3.8 as built) o Max usable building area 10,236 sf o Unused buildable area ca. 512 sf o Stories 5 o Number of units 20 o Tenancy type 17 FM, 2 RS, 1 RC o Average unit size 486 sf o Type Walkup o Year built 1920 ❖ LOCATION ✓ ~ 10,000 SF located in the East Village neighborhood ✓ Excellent access to the L, 4, 5, 6 and N/Q/R subway lines ✓ Easy commute to Lower Manhattan and Midtown Office Districts ✓ One block away from Tompkins Square Park ✓ 0.6 miles (10-12 min walking) to Beth Israel Hospital ✓ 1 mile (~15 min walking) to NYU ✓ Close proximity to many popular retailers ✓ Abundant public and private schools ✓ Plenty of restaurants and distinguished entertainment options ❖ FINANCIALS Operating expenses $141,644 Units Bedrooms Lease type Monthly rent Annual rent % of Total Rental Income 1 1 RS $1,267 $15,208 Water $6,434 RC 1.6% RS 2 1 RS $1,276 $15,310 Con Edison $2,019 5.3% 3 1 VACANT $3,100 $37,200 Oil $14,944 Boiler $2,500 4 1 VACANT $1,520 $18,240 Super $4,200 5 1 VACANT $3,100 $37,200 Insurance $11,000 6 1 VACANT $3,100 $37,200 Repairs $3,850 7 1 FM $2,600 $31,200 Property taxes $96,697 FM 8 1 FM $2,500 $30,000 Net Operating Income $435,326 9 1 FM $1,927 $23,120 93.2% 10 1 FM $2,495 $29,940 11 1 FM $2,550 $30,600 12 1 VACANT $3,100 $37,200 13 1 FM $2,400 $28,800 14 1 FM $2,550 $30,600 15 1 FM $2,700 $32,400 16 1 VACANT $3,100 $37,200 17 1 RC $750 $9,000 18 1 FM $2,346 $28,152 19 1 FM $2,600 $31,200 20 1 VACANT $3,100 $37,200 $48,081 $576,970 ❖ EAST VILLAGE – RECENT MULTIFAMILY SALES COMPS Building Distance Address Neighborhood Price/sqft Sale date Sale price Floors Price/floor Year built Lot sqft Lot dimensions sqft (miles) 94 Avenue A East Village 9,156 0.28 $1,048.49 03/14/2019 $9,600,000 4 $2,400,000 1920 2,763 36.83 ft x 75 ft 225 E 10th St East Village 14,265 0.36 $1,044.51 03/25/2019 $14,900,000 5 $2,980,000 1920 4,738 50 ft x 94.75 ft 101 1st Ave East Village 6,029 0.40 $1,326.92 03/07/2019 $8,000,000 5 $1,600,000 1900 2,208 22.08 ft x 100 ft 24 Avenue A East Village 15,308 0.46 $1,032.14 02/08/2019 $15,800,000 6 $2,633,333 1900 3,450 57.5 ft x 60 ft 311-313 2nd Ave Gramercy Park 16,026 0.57 $1,123.17 01/15/2019 $18,000,000 6 $3,000,000 1910 3,406 34.67 ft x 98 ft 356 Bowery NoHo 6,155 0.69 $1,445.98 01/31/2019 $8,900,000 5 $1,780,000 1910 1,785 19.33 ft x 108.42 ft 670 Broadway NoHo 66,905 0.84 $1,950.53 01/25/2019 $130,500,000 5 $26,100,000 1900 11,137 85.58 ft x 130.17 ft 141 Chrystie St Lower East Side 4,356 0.93 $2,180.90 03/25/2019 $9,500,000 2 $4,750,000 1930 2,520 23.08 ft x 105.5 ft 176 Bowery NoLIta 5,855 0.94 $1,571.31 03/11/2019 $9,200,000 3 $3,066,667 1900 1,842 25.17 ft x 100.92 ft 605 E 11th St East Village 9,718 0.00 $12,000,000 5 $2,400,000 1920 2,559 25.17 ft x 103.25 ft ❖ CONTACTS For more information, please contact: Bianka Yankov Vladislav Hristov Javier Cruz Founder & CEO Investment Sales Division Licensed Real Estate Salesperson Licensed Real Estate Broker 917.213.8839 609.792.2723 347.968.3379 [email protected] [email protected] [email protected] SpireGroupNY.com SpireGroupNY.com SpireGroupNY.com.
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