176 East 3rd Street, New York NY
176 E 3rd St
$38,500,000
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$38,500,000

Est. Mortgage: $186,365 / mo  (Mortgage)

For Sale

176 E 3rd St New York, NY 10009 (East Village)

  • 102 Days on Trulia
  • Income/Investment

Home Details for 176 E 3rd St


102 Days on Trulia
E. Greenwich Village - Low-rise
176 E 3rd St 176 East 3rd Street is located between Avenues A and B and features almost 100' of frontage along East 3rd. Standing six stories tall, the building encompasses a total of 43,520 gross square feet and currently contains 48 residential units, 1 commercial unit and 1 professional unit. Currently, 27 units are rent regulated, 21 are free market, and one free market unit is occupied by the building's super. The building possesses substantial upside potential as it is still approximately 56% rent stabilized. Currently, the building is renting at an average of $39.00 per net square foot with t...he RS units averaging approximately $19.00 per net square foot. These figures illustrate that there is still a tremendous amount of additional revenue available to capture. Over time new ownership should have the opportunity to turn over some or all of the remaining stabilized units, convert them to free market apartments and increase their annual gross revenue by over $1,000,000. The property is part of The East Side Elevator Portfolio, a five building multifamily portfolio available for purchase.
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Schools
Elementary School
Approaches Standard

Middle School
Approaches Standard

High School
Exceeds Standard
Low
Crime
Features for 176 E 3rd St

Information last updated on 11/24/2014 12:00 AM:
    • Price: $38,500,000
    • Income/​Investment

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            Compare homes in the area to 176 E 3rd St

            This Home
            $38,500,000
            VS
            $2,230,000
            $2,475,000
            $1,240,000

            Real Estate Trends in East Village


            Listing price for 176 E 3rd St $38,500,000  
            Average listing price for similar homes $33,233,333 14% below listing price
            Average listing price for all homes in East Village $2,601,147 1380% below listing price
            Median sale price for all homes in East Village $2,475,000 94% below listing price

            Estimates around 176 E 3rd St


            $1,099,500
            4 br / 2 ba
            Single-Family Home
            OPEN HOUSE Sun Oct 16, 2pm to 4pm
            • Home Estimates for 176 E 3rd St

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