Call for pricing on guidance. Income $510,000 Expenses $177,400 NOI $332,630.
Executive Summary: Rare sale of this pristine 22 unit apartment building located at 76 Irving Place, situated 1 block below Exclusive Gramercy Park between 18th and 19th street. This beautiful 6 story elevator apartment building consists of a total of 22 units, 20 studios, one 1 bedroom, and one 2 bedroom. 15 units are rents stabilized and the other 7 at fair market rents.
PROPERTY FACTS
Price: Undisclosed
Building Class : B
Price Per Unit
Lot Size
Sale Type
Investment
Building Size: 12,492
No. Units 22 + Super
Average Occupancy 100%
Property Type: Multifamily
No. Stories 6
Property Subtype Apartment
Year Built 1910
Apartment Style Low Rise
Opportunity Zone
Income: $510,000
Expenses: $177,400
NOI: $332,630
CAP Rate 5.3 at $6.3M
Any rent or income information in this offering memorandum, with the exception of actual, historical rent collections, represent good faith projections of potential future rent only, and Salizzoni Realty makes no representations as to whether such rent may actually be attainable. Local, state, and federal laws regarding restrictions on rent increases may make these projections impossible, and Buyer and its advisors should conduct their own investigation to determine whether such rent increases are legally permitted and reasonably attainable.