As exclusive agent, we are pleased to offer for sale a townhouse gem with an income-producing component located at 169 First Avenue in downtown Manhattan's East Village. The building is located between East 10th and East 11th Streets. 169 First Avenue is a 3-story townhome with a newly renovated three-bedroom triplex apartment overlooking a secret garden oasis. There is a ground floor retail store which provides a steady stream of income for the next eight years. The roof was renovated in 2016, and the fire escape was replaced in 2010. There is a 23' x 60' landscaped garden in the rear of the building. There is a full basement. The existing structure features excellent light and air exposure due to lower scale buildings to the East, South and proximity to Tompkins Square Park. The Property is zoned R7A with a C1-5 commercial overlay. The underlying base residential zoning coupled with the commercial overlay permits the property to be redeveloped and configured as a mixed-use conversion or entirely for residential use. This offering presents developers and user-purchasers with the opportunity to acquire a structurally-sound building ready for conversion and redevelopment. The Property is ideal for either an investor or user. Situated in one of Downtown Manhattan's most vibrant neighborhoods, the Property is in close proximity to the 14th Street commercial corridor, Tompkins Square Park, Union Square, Astor Place/ Cooper Square, NYU's Washington Square campus, Cooper Union, Mt. Sinai Beth Israel Hospital, the East Side Medical-Biotech Corridor, and an array of neighborhood attractions including dining and nightlife, museums, galleries and independent specialty retail shops. Multiple subway lines are within a short walking distance including the 6 train at Astor Place, L train at First Avenue and F-M trains at Second Avenue.
Listing courtesy of Compass RE NY, LLC.
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