The New York Investment Sales group for Avison Young has been named the exclusive agent for the sale of 226 East 3rd Street, an 8,385-square-foot, 15-unit mixed use walk-up building, comprised of 13 residential and two ground floor retail units in the East Village neighborhood of downtown Manhattan. The asking price for the building is $8.5 million.
James Nelson, Principal and Head of Tri-State Investment Sales, Brandon Polakoff, Director, Phillip Bowman, Associate and Bradley Rothschild, Associate, are marketing the property on behalf of the Tri-State Investment Sales Group representing the owner.
“This well-located property was recently renovated, giving it a competitive edge over other comparable East Village rental buildings,” Nelson notes. “The eight free market residential units are ripe for cash flow and the remaining regulated apartments provide potential future upside as well. When you combine the residential units with the ground-floor retail, this becomes an outstanding investment opportunity and we’re expecting significant interest.”
The apartments allow for light and air from two sides of the building and the property offers residents numerous amenities including a laundry room and a courtyard. Additionally, residents can take advantage of the many restaurants, shopping and cultural offerings available in the iconic East Village neighborhood.
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