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129 E 17th St
New York, NY 10003
Multifamily Property For Sale
·
4 Units
EXECUTIVE SUMMARY
Prime Gramercy Park Location.
129 East 17th Street is a rare gem nestled between Irving Place and
Third Avenue. This prime location is just a short walk from Gramercy
Park and is surrounded by an array of eateries, charming cafes, luxury
townhomes and condos.
Condo or Single-Family Home Conversion Play.
Value-add potential for a condo can include upgrading interiors
(kitchens/baths/finishes), adding in-unit amenities (smart systems,
laundry), or rebranding with premium services to push prices toward
the high end of the neighborhood’s strong $/PSF range. For a single
family home conversion, combining units into a full-floor or
townhouse-style residence can unlock a substantial premium by
creating a rare product type in a dense Manhattan market.
Protected Tax Class 2A.
With 5 apartments, 129 East 17th Street remains tax class protected,
providing a hedge against expense increases to any potential buyer. Tax
increases are limited to 8% per year, no more than 30% over 5 years.
60% Delivered Vacant.
2 out of the 4 apartments can be delivered vacant along with the
owner-occupied ground level office space.
100% Free Market.
The asset is 100% free market with no rent regulation history. This is
ideal for a condo or single-family home conversion where average
condos and single-family homes are selling over $2,000 PSF.
129 East 17th Street is a rare gem nestled between Irving Place and
Third Avenue. This prime location is just a short walk from Gramercy
Park and is surrounded by an array of eateries, charming cafes, luxury
townhomes and condos.
Condo or Single-Family Home Conversion Play.
Value-add potential for a condo can include upgrading interiors
(kitchens/baths/finishes), adding in-unit amenities (smart systems,
laundry), or rebranding with premium services to push prices toward
the high end of the neighborhood’s strong $/PSF range. For a single
family home conversion, combining units into a full-floor or
townhouse-style residence can unlock a substantial premium by
creating a rare product type in a dense Manhattan market.
Protected Tax Class 2A.
With 5 apartments, 129 East 17th Street remains tax class protected,
providing a hedge against expense increases to any potential buyer. Tax
increases are limited to 8% per year, no more than 30% over 5 years.
60% Delivered Vacant.
2 out of the 4 apartments can be delivered vacant along with the
owner-occupied ground level office space.
100% Free Market.
The asset is 100% free market with no rent regulation history. This is
ideal for a condo or single-family home conversion where average
condos and single-family homes are selling over $2,000 PSF.
PROPERTY FACTS
| Price Per Unit | $4,375,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| No. Units | 4 | Building Size | 11,625 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1900 |
| Apartment Style | Mid-Rise | ||
| Zoning | R8B, New York (C4) | ||
| Price Per Unit | $4,375,000 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 11,625 SF |
| No. Stories | 5 |
| Year Built | 1900 |
| Zoning | R8B, New York (C4) |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | - |
PROPERTY TAXES
| Parcel Number | 0873-0025 | Improvements Assessment | $777,158 |
| Land Assessment | $177,242 | Total Assessment | $954,400 |
PROPERTY TAXES
Parcel Number
0873-0025
Land Assessment
$177,242
Improvements Assessment
$777,158
Total Assessment
$954,400
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