SHARE THIS LISTING

VIEW MAP

257 West 12th Street

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a 25' wide, five-story plus lower level, walk-up apartment building located on the north side of West 12th Street between Greenwich Avenue and West 4th Street. The building has been owned and operated by current ownership for over 10 years. The property consists of 11 large railroad-style apartments of which nine are FM and two are RS. The average in-place rent is approximately $59 per square foot which is 40% below market. There is substantial upside in rents by renovating the common areas and converting the apartments into two-bedroom units (currently only four of them are two-bedrooms). Additionally, if the property can be vacated, it would make for an expansive single family townhouse conversion opportunity on a block that commands in excess of $2,200 per square foot for similar assets. It is located steps from popular neighborhood spots such as Wallflower, Monument Lane, Corner Bistro, and Beatrice Inn as well as area amenities such as Equinox, St. Vincent's Park, and Bleecker Playground. Additionally, it is three blocks south of the 14th Street stops to the A, C, E, L, 1, 2, and 3 trains. This is a rare opportunity to acquire an investment property with strong in-place cash flow and immediate upside in the rents with additional long-term upside as a single family conversion on one of the best blocks in the West Village.

* Listing courtesy of Cushman and Wakefield.

Greenwich Village Living

257 West 12th Street

$10,950,000
Postwar Townhouse
0
No

Contact an Agent

IAN ELLISON

LICENSED REAL ESTATE AGENT
Phone: (212) 865-2366, Ext. X 4

iellison@razrealty.com View My Listings

Neighborhood Map

Loading Map...

Building Info

Name:
Address: 257 West 12th Street
Neighborhood: Greenwich Village
Cross Street:
Type: N Townhouse
Built:
Floors: 5
Units:
Style: Postwar

Additional Features