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Value-Add Mixed-Use 109 Madison St 23 Unit Apartment Building $5,850,000 ($254,348/Unit) New York, NY 10002

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INVESTMENT HIGHLIGHTS

82% Free Market
Rental Upside

Ground Floor Laundromat
Mostly Occupied Units

EXECUTIVE SUMMARY

109 Madison Street is a 6-story, 9,480 square foot mixed-use walkup consisting of a ground-floor laundromat, 18 free market, 2 occupied rent-stabilized, and 2 vacant rent-stabilized units. The residential layouts include 19 2-bed/1-bath units, 2 2-bed/2-bath units, and 1 2-bed/2-bath with private rear yard access. The property runs efficiently as tenants pay for their own gas and electric, and solar panels on the roof provide electric for the building's common areas. 109 Madison Street borders Two Bridges, Chinatown, and the Lower East Side and presents immediate cash flow and future upside in rental growth. Since 2014, the Two Bridges neighborhood showed the highest increase in sales prices across Manhattan driven by rental demand and an influx of luxury residential development. 109 Madison Street offers incredible opportunity to capitalize on the neighborhood's continued growth and prosperity.

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PROPERTY FACTS

Price	$5,850,000	Building Class	C
Price Per Unit	$254,348	Lot Size	0.06 AC
Sale Type	Investment	Building Size	9,480 SF
No. Units	23	Average Occupancy	100%
Property Type	Multifamily	No. Stories	6
Property Subtype	Apartment General Retail Storefront Retail/Residential	Year Built/Renovated	1900/1985
Apartment Style	Mid-Rise
Zoning	R7-2 - R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. 7-2 has less parking requirements.

Price	$5,850,000
Price Per Unit	$254,348
Sale Type	Investment
No. Units	23
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential
Apartment Style	Mid-Rise
Building Class	C
Lot Size	0.06 AC
Building Size	9,480 SF
Average Occupancy	100%
No. Stories	6
Year Built/Renovated	1900/1985
Zoning	R7-2 - R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. 7-2 has less parking requirements.