Heart of Chelsea..Multi Family-Mixed Use..Great Investment Opportunity

    Dvir Atias
    Licensed Associate Real Estate Broker
    Mobile: 917.547.2246
    415 Madison Avenue New York, NY 10017
    Phone: 212-252-8772
    Fax: 212-252-9347
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    Location

    202 8th Avenue
    New York NY 10011

    Property

    Ownership: Multi-Family
    Type: Townhouse
    Area: 6200 sq ft

    Financials

    Price: Available upon request

    Description

    Mixed Use Building with a Commercial Tenant in place paying $27,583 a month with a 3% annual increase until 2026 years with a personal guarantee for the entire amount for the whole term with a confession of judgement on the personal guarantee. The commercial restaurant tenant (INTERMEZZO) has been in business since 1990 and the present operator has been operating for the past 6 years and also operates 10 other restaurants. He also pays 50% of the increase of real estate tax of the base year. There are a total of eight one bedroom rent stabilized apartments. The total yearly expenses are $80,500 with an annual rent roll of $412,000 ( 3.7% Cap Rate )

    Neighborhood

    More listings: Chelsea

    All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
    All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.