343 East 21st Street

A 26.5’ wide, 4-story plus basement, approximately 2,628 SF mixed use building. The building consists of three floor-through three-bedroom apartments and two stores. The apartment leases are all expiring within a year while the cleaners lease expires in October 2022 and the barbershop lease expires in June 2021. Located just 50’ off the corner from First Avenue on the north side of 21st Street the property offers a highly desirable unique quietness for the apartments while maintaining the visibility for the neighborhood retailers on the ground floor to prosper. Nestled near the friendly confines of Gramercy Park on this beautiful tree-lined block you will not find a cleaner or more beautifully renovated building. With only three residential units and tenants who pay for their own utilities this building offers an investor a management un-intensive delight. The property is being offered for just above a 4.0% cap rate with the upside potential to increase to 5.0% in the first year of ownership given the below market residential rents. Operating expenses including real estate taxes are only about $3,000 per month. This building is the perfect cash flowing investment or ideal for an end-user as a live/invest.