Multifamily Apartment - For Sale

Highlights:

• Free Market Upon Vacancy: Tax abatement has expired allowing free market rents upon vacancy, currently 100% regulated rent stabilized.
• Modern 2000 Elevator Building: Discover an exceptional investment opportunity with this 33-unit fireproof building with elevator. Built with steel and concrete completed in 2001, the property features elegant Travertine Marble walls and durable Quarry tile floors, offering both aesthetics and longevity.
• All Inclusive Facility Amenities: On-site Laundry Facilities. Gas, multi-boiler Heating and Hot Water. Landlord owned storage in basement, 1500+ sf, with separate front outside access.
• Handicap Accessible & Fire Safety: The entire building is 100% handicap accessible and adaptable, ensuring convenience. This building is equipped with a comprehensive fire safety system, including a full sprinkler setup, standpipe, fire pump, and self-closing apartment doors. It is classified as a Class A fireproof dwelling, providing unparalleled safety for residents.

Description:

Benjamin Chin and 351 East 4th Street, LLC are offering 351 East 4th Street, a premier 33-unit multi-family property located in the vibrant East Village, New York. Spanning approximately 30,629 square feet with 66 feet of frontage, the building sits on a 66' x 96' lot and is fully occupied, ensuring stable and immediate rental income. Constructed in 2001, this modern fireproof building features steel and concrete construction, elegant Travertine Marble walls, and durable Quarry tile floors, reflecting both high-quality design and longevity. The property is currently 100% occupied and benefits from an expired tax abatement, allowing for free market rents upon vacancy.

The property is zoned R8B FAR 4.0 and R8A FAR 6.02 with a C1-5 overlay, enhancing its investment potential. It includes desirable features such as on-site laundry facilities, multi-boiler heating, and a substantial 1,500+ square feet of landlord-owned storage with separate access. Additionally, the building is fully handicap accessible, equipped with a comprehensive fire safety system, and classified as a Class A fireproof dwelling. This combination of modern amenities, strategic location, and strong occupancy makes it a valuable investment opportunity.

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