Listed by IPRG Investment Property Realty Group
$3,000,000
106 Avenue B
Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 8,800
Cap Rate 7.00%
Price per SqFt $341
6.7% Cap Rate in East Village
Investment highlights
Investment Property Realty Group (IPRG) has been exclusively retained by ownership to market 106 Avenue B, a mixed-use
building located in the East Village neighborhood of Manhattan.
The property is fully rent stabilized and consists of eight residential apartments and two ground-floor retail units. The
building benefits from a low annual tax bill of $16,423, resulting in a below-average expense ratio and strong in-place cash
flow.
106 Avenue B is being offered at $384 per square foot, well below replacement cost, and provides investors with an
attractive 6.67% capitalization rate. The property will be delivered free of the AEP program, offering a clean path forward
for future ownership.
Listing Contacts
Listed by IPRG Investment Property Realty Group
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Zoning
R7A ResidentialTwo FamilyGeneral Residence
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