This property, located in Gramercy, has an approximate gross square footage of 2,528 and is located on East 20th Street between First and Second Avenues. The building is built approximately 28 feet by 23 feet deep and is situated on a 28 foot by 23 foot lot (Block: 00925 Lot: 0141). The property is zoned C1-6A. The subject property is a four-story mixed-use building consisting of three free market apartments and one store. All three apartments have been recently renovated and two are configured as three-bedroom, one bathroom units. The other unit is a two-bedroom, two bathroom unit. The tenants are responsible for their own heating, cooking gas and electric bills. The retail space is occupied by a laundry drop off store with a lease through November 2017 with three percent annual increases. The laundry drop-off is responsible for 50 percent of the Real Estate Tax increase over year 2011/2012. The property represents a rare opportunity to acquire a completely free market building in the Gramercy neighborhood. The property features 28 feet of frontage and is in Tax Class 2A. With little management needed and low taxes, this price point deal is a strong cash-flowing investment in a booming rental market. INVESTMENT HIGHLIGHTS * Four Story Mixed-Use Building * Located one of the corner on 20th Street Between First and Second Avenues * Tax Class 2A * Two Three-bedroom/One- Bathroom Apartments & One Two-Bedroom/Two-Bathroom apartment; All Free Market and Recently Renovated * All Residential Tenants are Responsible for Their Own Heating and Electrical Bills
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