• Essentials

    Web ID#: 872643
    Property Type: Townhouse
    Approx. Size: 6,200 SqFt
    Taxes: $5,011
    Total Rooms: 13
    Stories: 4
    Pet Policy: No Pets
  • Amenities

    Balcony, 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.


Courtesy Of Warburg Realty Partnership, Ltd.

NEARBY TRANSIT


Nearby Subways

  • 6 4th Ave & East 8th St (~0.10 mile)
  • N R Broadway & 8th Ave (~0.18 mile)
  • L 3rd Ave & 14th St (~0.28 mile)
  • L N Q R 4 5 6 4th Ave & 14th St (~0.33 mile)
  • B D F M 6 Lafayette St & Mulberry St (~0.36 mile)

Contact Agent

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