Cushman & Wakefield Retained Exclusively to Sell Multifamily Building in the East Village
Cushman & Wakefield has been retained on an exclusive basis to sell a multifamily building at 25 East 7th Street. The property is located between Cooper Square and Second Avenue in Manhattan’s East Village neighborhood. The asking price is $8,950,000.
The five-story walkup building contains approximately 8,092 square feet on a 26’ x 75’ lot. It consists of nine residential units, of which three are rent stabilized, one is rent controlled, and five will be delivered vacant. A majority of the units are large one-bedrooms that could be converted to two or three-bedrooms or front-back units. Additionally, there is a vacant unit that could be converted into a duplex apartment with garden access.
The building is ideally located just steps from The Cooper Union’s new building and is around the corner from trendy East Village eateries such as The Mermaid Inn and Narcissa. Additionally, it is situated less than three blocks from the Astor Place 6 subway line.
“This offering presents a rare opportunity to acquire a multifamily building with immediate upside in the heart of a fast growing area,” said Cushman & Wakefield’s James Nelson, who is exclusively marketing this property.