9 Saint Marks Place

E. Greenwich Village   |   Third Avenue & Second Avenue

Building for sale
$ 25,950,000
Ownership Rental Property
Status Active
Real Estate Taxes [Per Annum] $ 60,132
Building Type Loft
ASF/ASM 6,200/576
Listing ID: 76339TH

Jason Bauer

License

Manager, Lic. Associate RE Broker

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Property 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.
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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Apartment Features

A/C

Outdoor

Balcony
Terrace
9 Saint Marks Place E. Greenwich Village New York NY 10003

Building Details [9 Saint Marks Place]

Ownership Rental Property
Service Level Voice Intercom
Access Walk-up
Block/Lot 464/55
Building Type Loft
Floors 4

Building Statistics

$ 50 APPSF

Rented Listings [Last 12 Months]

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Loan Amount

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2019 REBNY Listing Service, Inc. All rights reserved. Additional building data provided by On-Line Residential [OLR].
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.