Sale Price: $3,950,000
Price/Unit: $493,750.00
Cap Rate: 5.38%
Building Size: 6,392 SF
Avg Unit Size: 647 SF
# of Units: 8
Avg Vacancy: 42.0%
Land Area: 0.04 AC
Investment Notes:
A 20.18’ wide, 5-story, approximately 6,392 square foot mixed-use apartment building with a store.
The property is conveniently located one short block away from Madison Square Park and the
Flatiron neighborhood on the north side of West 26th Street between Broadway and Sixth Avenue.
Built circa 1905, the building consists of 6 residential apartments, a 2nd floor commercial unit and a
vacant retail store. Two of the apartments are rent stabilized, one which is vacant, while the remaining
four are free market. With the exception of the full-floor second floor, all of the units are configured as
front and back studios, two per floor. The retail store is vacant, making the property ideal for a User or
an investor. Ceiling heights vary but are 12’4” on the 2nd floor and 10’ on floors 3 and 4. The property
is situated in a high-traffic location within the Madison Square Park North Historic District and steps
away from most major transportation.
