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502 E 12th St
New York, NY 10009
502 East 12th Street · Multifamily Property For Sale
·
10 Units
EXECUTIVE SUMMARY
Cushman & Wakefield (“C&W”) has been exclusively retained to offer for sale 100% fee simple interest in the building at 502 East 12th Street (the “Property”) New York, NY. 502 East 12th Street is a 5 story, 2B tax class multifamily building located on the south side of East 12th Street, just East of Avenue A in the heart of the East Village. The Property, which has 28’ of frontage along East 12th Street, spans 6,300 square feet above grade and features 10 apartments. Each of the apartments is a 2 bedroom, floor-through
style. There are 6 deregulated units and 4 rent stabilized units. Units 7 and 8 have been reconfigured in the front, making unit 8 a luxury 2 bedroom apartment. The basement has a full bathroom, a slop sink and plenty of storage space for possible additional income. The Property is well maintained, with new gas lines (2021), and hot water heaters (2018). The water is billed via frontage (metering would create savings). Landlord provides heat (gas fired steam) and cooking gas. The Property presents a unique opportunity for a buyer to purchase a well-maintained building in a best-in-class location that has not sold in over 30 years.
style. There are 6 deregulated units and 4 rent stabilized units. Units 7 and 8 have been reconfigured in the front, making unit 8 a luxury 2 bedroom apartment. The basement has a full bathroom, a slop sink and plenty of storage space for possible additional income. The Property is well maintained, with new gas lines (2021), and hot water heaters (2018). The water is billed via frontage (metering would create savings). Landlord provides heat (gas fired steam) and cooking gas. The Property presents a unique opportunity for a buyer to purchase a well-maintained building in a best-in-class location that has not sold in over 30 years.
PROPERTY FACTS
| Price Per Unit | $540,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.04 AC |
| No. Units | 10 | Building Size | 6,299 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built | 1900 |
| Zoning | R7A - R7A Zoning is a Contextual Residential Zoning District in NYC. This is a multifamily residential zone with medium sized buildings. | ||
| Price Per Unit | $540,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.04 AC |
| Building Size | 6,299 SF |
| Average Occupancy | 90% |
| No. Stories | 5 |
| Year Built | 1900 |
| Zoning | R7A - R7A Zoning is a Contextual Residential Zoning District in NYC. This is a multifamily residential zone with medium sized buildings. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 10 | - | - |
PROPERTY TAXES
| Parcel Number | 0405-0009 | Improvements Assessment | $110,579 |
| Land Assessment | $16,655 | Total Assessment | $127,234 |
PROPERTY TAXES
Parcel Number
0405-0009
Land Assessment
$16,655
Improvements Assessment
$110,579
Total Assessment
$127,234
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