24.44’ Wide, 4-Story Walk-Up Building - Delivered Vacant - Prime East Village Location
$2,755,000
429 East 12th Street, New York, NY 10009
4,336 sqft
Building Size
1,698 sqft
Lot Area
Details:
Description:
Ariel Property Advisors presents 429 East 12th Street, a rare 24.44’ wide development/ conversion opportunity on the north side of East 12th Street between First Avenue and Avenue A in the heart of Manhattan’s East Village.
429 East 12th Street is currently a 24.44’ wide, 4-story walk-up building with approximately 4,336 sq. ft. that previously served as a convent. The first and second floors currently contain several communal spaces, 1.5 baths and 2 full kitchens. The second and third floors each have 5 small bedrooms and one full bathroom.
The property will be delivered vacant, making it a rare repositioning play in a prime East Village location. Its width and layout make it an ideal conversion opportunity for owner-users, non-profits or residential developers. Owner-users and non-profits will appreciate the property’s flexibility to accommodate residential, educational, artistic or other community-oriented uses. Developers have a unique opportunity to capitalize on high residential demand and can convert the building to a luxurious single-family mansion or boutique condominium property. The property has additional air rights that may enable expansion.
429 East 12th Street is ideally situated in the heart of the East Village, one of Manhattan’s most dynamic ‘live-work-play’ neighborhoods. The building is surrounded by several recent new construction condominium developments and is a short walk to some of the city’s most popular eateries, including Momofuku Noodle Bar, Veniero’s Pastry Shop and Westville East. Convenient transportation is provided by the L train with entrances at First Avenue and Avenue A on East 14th Street as well as the 4/5/6/N/R/Q/W trains that can be accessed at Union Square, which is a 15 minute walk away.
A rare conversion offering in a prime East Village location, 429 East 12th Street is a premiere repositioning opportunity for owner-users, non-profits and developers.
Bidding Deadline
WEDNESDAY, MARCH 1ST, 2023 @ 4PM
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