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431 East 6th St. S1/B, New York, NY 10009

$1,245,000
Active Listing
Listing Details:
$1,245,000 Price
Co-op Property Type
East Village Neighborhood
-- Beds
3 Baths
-- Approx. Sq. Ft.
Key Features:
Prewar
Allows Pets
Description:

Amazing Artist Gallery Live/Work Opportunity in the East Village! These two units can be combined to create a massive amount (over 2,000 sq.ft.) of live / work / gallery space for an Artist or any live/ work / residential end-user. Also perfect for an Investor, as they can be rented out from Day 1 with no board approval needed. This "Tenants in Common" building would require an All Cash Purchase.

This building's flexible sublet policy (30 Day Minimum) and low monthlies make for the perfect investment or live/work opportunity. The two units have a total maintenance charge (which includes the real estate taxes) of only $1,350/month, so you could achieve a high cap rate plus significant price appreciation as the other Tenants in Common owners are discussing the possibility of converting the building to true condominium units.

The ground floor Alcove Studio, Unit S1 is zoned for residential / commercial / possible retail use and can be the perfect place to call your home while you operate your business below. The sub-level Gallery space, Unit B has a flexible layout with multiple offices or storage spaces depending on the end user's needs and features a legal 3 piece full bathroom. The walls for the office spaces can be removed to create an impressive & open gallery space.

Only a few doors away from the Peter Brant Foundation this gallery was utilized for over thirty years as a painting and photography Studio of the famous artist William Wegman & later for a few years as the gallery space for The Bruce High-Quality Foundation

Listing courtesy of Compass

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