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9 Saint Marks Place, New York, NY 10003

$25,950,000
Listing Details:
$25,950,000 Price
Townhouse Property Type
East Village Neighborhood
6 Beds
9 Baths
6,200 Approx. Sq. Ft.
$5,011 RET
Key Features:
Unit Balcony
Unit Terrace
Description:

For the first time in five decades, this 32-foot wide prime mixed-use property is now on the market for sale. This is an extremely rare opportunity for a buyer to secure a property located in the thriving St. Marks Place corridor. Originally built in 1830, this five-story plus basement property has over 6,000 square feet of prime retail space. The building has a mixture of original detail with contemporary updates. There are high-beamed ceilings, exposed brick walls, and a soaring spiral staircase that is a classic example of mid-century architecture.

9 St. Marks Place is currently comprised of three retail tenants and three floor-through live/work spaces above. The three retail tenants have two bathrooms each and the three live/work spaces each have one bathroom. The asset is being offered at a 5% cap rate. Since the commercial tenants cover most of the property expenses (including the real estate taxes), 9 St. Marks costs little to operate and has a NOI of approximately $1.4M. The next owner can benefit from the strong growth in rent plus the continued evolution of the block.

Listing courtesy of Warburg Realty Partnership, Ltd.

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