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Listing provided by LightBox Revere
615 E 6th StNew York, NY 10009
615 East 6th Street
Asset ClassMultifamily
Overview
The New York Multifamily team is pleased to exclusively offer for sale 615 East 6th Street, located in the Alphabet City neighborhood. Located on the North side of 6th Street between Avenue B and Avenue C, this 9-unit multifamily property is comprised of approximately 7,860 square feet with 25’ of frontage. This property sits on a 25’x90.83’ lot (Block: 389 and Lot: 53) and is built 62’ deep. The property is zoned R8B.
Investment Highlights
- Building Overview: This 5-story multifamily building features 25 feet of frontage on East 6th Street and contains 9 large, residential apartments. The unit mix consists of 6 two-bedroom apartments and 3 three-bedroom apartments.
- Tax Class Protected: 615 East 6th Street falls under the highly coveted protected tax class: 2B. By law, taxes cannot increase more than 8% year-over-year or 30% over any given 5-year period. This acts as a great hedge against future rising taxes.
- Newly Renovated with High End Finishes: Apartments contain a large living room area with newly finished hardwood floors, recessed lighting, custom cabinetry, marble countertops, stainless steel appliances, in-unit washer/dryer, bathrooms with luxury finishes, virtual doorman, video intercom, and keyless entry.
- 89% Free Market Status: This opportunity is 89% Free Market, giving potential buyers future rental upside and flexibility. Due to the mostly free market status of apartments, a buyer can feel comfortable knowing that they do not need take on burdensome management of many rent regulated apartments.
- Desirable Location: Alphabet City is a highly desirable neighborhood that attracts young professionals, students, and families. The building is in direct proximity of highly trafficked retail, restaurants, nightlife, and transportation. The building is steps away from Tompkins Square Park, East River Park, multiple gardens, and across the street from a school.
- Nearby Transportation: The building is within close walking distance of the L train line and bus lines: M9, M21, M14A-SBS.
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Sales Team
Listing provided by LightBox Revere