$13,725,000
Updated 9 years ago
Sold

86 University Place

Greenwich Village, Manhattan | East 11th Street & East 12th Street

9,730 Square FeetRental Property

$13,725,000
floors / apts5 / 4
Lot Size24'x98'6"
Built Size24'x98'
ZoneC1-7
Building TypeLow-Rise
RE Taxes$168,134
Price Per SF
$1,411

This property was sold for $13,725,000 on 02/20/15.

Building Amenities

  • Voice Intercom

Property Description for 86 University Place

86 University is a 24’ wide, 5 story plus basement, approximately 7,365 square foot walk-up mixed-use building located in Greenwich Village. The property consists of a restaurant in the basement, ground and second floors with a lease until December of 2015, which has a demolition clause in place. The restaurant space has a C of o for an eating and drinking establishment without restrictions on entertainment. The current rent is approximately $101/SF. Which is a fraction of market, providing a new owner with substantial upside in rent. The residential portion of the building consists of 4 fair market apartments. The third floor has a 1-bedroom in the front and a 2-bedroom in the rear. The 4th and 5th floors are 3-bedroom floor through apartments. There are approximately 6,746 square feet of unused air rights. The property would be ideal for an investor, a developer, or an owner user.

Listing History for 86 University Place

Now
02/20/2015
$13,725,000
Sold and Closed by James P. Nelson
Cushman & Wakefield
2015

Building Details for 86 University Place

OwnershipRental Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1867
Floors/Apts5/4
Learn More About the Building

Transit and Citi Bike

Subway

14 St-Union Sq
0.15 miles
8 St-NYU
0.23 miles
Astor Pl
0.27 miles
6 Av
0.32 miles
14 St
0.35 miles

Citi Bike

University Pl & E 14 St
0.1 miles
E 10 St & 5 Ave
0.1 miles

Contact Agents

Contact Agents

James Nelson
Cushman & Wakefield
Mitchell Levine
Cushman & Wakefield
Caroline Hannigan
Cushman & Wakefield

Greenwich Village | Manhattan

Quick Profile

Birthplace of beatniks, Greenwich Village has always been a neighborhood bursting with creativity, home to artists, poets, musicians and writers. There is a lot of foot traffic in the neighborhood, as it gives convenient access to many other neighborhoods. There are a lot of popular eateries on MacDougal Street and bars on Bleecker Street. The neighborhood has a bit of a college-town feel, due to the presence of NYU. There aren’t large chain stores here, so it isn’t really a mecca for shopaholics, but you can find interesting vintage stores and specialty boutiques.

Available housing is centered on pre-war walk-ups. You can find good deals on the quieter, tree-lined side streets, as opposed to the bustling avenues. There are pockets of brownstones and townhouses, some dating back to the early 19th century, throughout the neighborhood, as well. You will find more luxurious housing in the newer high-rise buildings on Park and Fifth Avenues.

Washington Square Park is the heart of the neighborhood. If you sit near the Arch and close your eyes, you might catch an echo of the music and social history of the Park, floating through the air. Greats like Joan Baez, Bob Dylan, and Paul Simon started their storied careers right here in Greenwich Village. Today, the Village is a celebration of diversity, where everyone is welcome.

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. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 25629TH