402 East 12 Street - Map blueView Map

For Sale - Manhattan - East Village

402 east 12th street

Property Details:

Price: $11,300,000

Estimated Annual Income: None Provided

Property Type: Multi-Family

Lot Dimensions (ft): 30.0 x 53.25

Lot Area: 1,597 sq. ft.

Building Dimensions (ft): 30.0 x 42.0

Building Area: 6,570 sq. ft.

Zoning: R7A

Building:

Block/Lot: 00439/0009

BIN: 1005973

Building Class: C1

Stories: 5

Total Units: 16

Corner Lot: No

Buildings on Lot: 1

Year Built: 1900

Landmark: none

Has Garage: no

Year Last Altered: 1987

Residential Units: 16

Residential Area: 6570 sq. ft.

Floor Area Ratio:

Max FAR: 4.0

Useable Floor Area: 6,570 sq. ft.

FAR as Built: 4.11

Neighborhood:

Neighborhood: East Village

Historic District: n/a

Community District: 103

School District: 1

Census Tract: 34

402 East 12 Street

The subject property is a 6-story walk-up building located on the south side of East 12th Street between First Avenue and Avenue A. The 7,740 square foot building benefits from 30’ of frontage and recently received a full gut renovation of all but one apartment. Of the 16 residential units, there is a mix of one-bedroom and two-bedroom units which consist of 15 Free Market and 1 is Rent Stabilized unit. In addition to the common areas being fully gut renovated, the Free Market apartments have experienced substantial renovations which include Carrara marble countertops, brand new stainless steel appliances including a dishwasher and microwave, luxury bathrooms with carefully curated mosaic tile work, Bosch washer & dryer units, recessed lighting, exposed brick, espresso cabinets, ebony hardwood floors, and crown/baseboard moldings. Furthermore, the ground floor units (1E & 1W) are two steps down from the street and have an entrance/exit at the rear of the property providing direct access to the private patio area. Another significant amenity for tenants is the fully furnished common roof deck. The building is currently generating an annual gross income of $690,000 with a net operating income of $477,000.