Updated 10 years ago
Sold
25 East 7th Street
East Village, Manhattan | Third Ave & Second Ave
8,110 Square FeetRental Property
$8,950,000
floors / apts5 / 9
Lot Size26'x75'
ZoneR8B
Building TypeLow-Rise
RE Taxes$23,008
Price Per SF
$1,104
This property was sold for $8,150,000 on 03/31/16.
Building Amenities
- Voice Intercom
Property Description for 25 East 7th Street
A 26’ wide, five-story, multi-family walk-up building located on the north side of East 7th Street between Cooper Square and 2nd Avenue. The building consists of nine residential units, of which three are rent-stabilized, one is rent-controlled, and five will be delivered vacant. The average in-place rent of the rent-regulated units is approximately $22 per square foot which is only a fraction of market. A majority of the units are large one-bedrooms that could be converted to two or three-bedrooms or front-back units. There is also dramatic upside in renovating the vacant units, one of which can be converted into a duplex unit with garden access, to attain market rents. The building is located steps from The Cooper Union’s new building and around the corner from trendy East Village eateries such as The Mermaid Inn and Narcissa. Additionally, it is located less than three blocks from the Astor Place 6 train stop. This is a rare opportunity to acquire a multi-family building with immediate upside in the heart of a fast growing area.
Listing History for 25 East 7th Street
Now
04/12/2016
$8,150,000
Sold and Closed by James P. Nelson
Cushman & Wakefield
2016
Building Details for 25 East 7th Street
OwnershipRental Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1900
Floors/Apts5/9
Transit and Citi Bike
Subway
Astor Pl
0.15 miles
8 St-NYU
0.22 miles
3 Av
0.34 miles
Bleecker St
0.34 miles
2 Av
0.36 miles
Citi Bike
E 6 St & 2 Ave
0.09 miles
St Marks Pl & 2 Ave
0.1 miles
Contact Agents
Contact Agents
James Nelson
Cushman & Wakefield
Matthew Nickerson
Cushman & Wakefield
Brandon Polakoff
Cushman & Wakefield
East Village | Manhattan
Quick Profile
The East Village has two distinct moods. By day, it is quiet and peaceful. Everyone is out and about, either working or relaxing at Tompkins Square Park, strolling or jogging along the East River, or hanging out in one of the subsets of cultural activity, such as St. Mark’s Place.
But then night falls, and the East Village comes to life, keeping the entertainment and nightlife going long after the other neighborhoods have called it quits for the night. People from all five boroughs flock to the dive bars and speakeasies, head for their favorite cafes and restaurants, or drop in to a music venue to listen to hot tunes or cool jazz and dance the night away. Don’t worry, you don’t have to “know somebody” to gain admittance to even the most popular venues. You won’t find velvet ropes, bouncers, or and a waiting list at the door of most places. Just walk right in and enjoy yourself.
Be prepared for the increased population during fall through spring, when NYU is in session. College students will be everywhere, contributing to the youthful essense of the neighborhood.
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: 61413TH
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