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202 8th Ave, New York, NY 10011

Listing Details:
$8,850,000 Price
Townhouse Property Type
Chelsea Neighborhood
-- Beds
0 Baths
6,200 Approx. Sq. Ft.
Key Features:
Allows Pets

INVESTORS ------- Mixed Use Building with a Commercial Tenant in place paying $27,583 a month with a 3% annual increase until 2026 years with a personal guarantee for the entire amount for the whole term with a confession of judgement on the personal guarantee. The commercial restaurant tenant (INTERMEZZO) has been in business since 1990 and the present operator has been operating for the past 6 years and also operates 10 other restaurants. He also pays 50% of the increase of real estate tax of the base year. There are a total of eight one bedroom rent stabilized apartments. The total yearly expenses are $80,500 with an annual rent roll of $412,000 ( 3.7% Cap Rate )

Listing courtesy of Douglas Elliman Real EstateListing courtesy of Douglas Elliman Real Estate

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