471 6th Avenue
New York, NY
471 6th Avenue, New York, NY 10011
Neighborhood: Greenwich Village
Asset Type: Mixed Use
Square Feet: 2,680
Residential Units: 2
Commercial Units: 1
Besen & Associates, Inc. has been retained on an exclusive basis to sell 471 6th Avenue, New York, NY 10011. The property is a three-story walk-up building, totaling approximately 2,680 SF. Built in 1910, it is comprised of two residential and one commercial unit. The building is located on 6th Avenue between West 11th and West 12th Streets in the Greenwich Village neighborhood of Manhattan.
The subject property’s location provides prime retail on 6th Avenue and unregulated residential units, with building-wide upside potential in rents, upgrades, and additions.
Current income is substantially below market and all tenants’ leases expire within 1½ years, providing for significant short term upside. Additionally, the building offers air rights which could potentially be used to create a duplexed 3rd floor or pop-up penthouse.
Recent building Improvements include: gut renovated lobby (2014), new mailboxes (2014), new staircases (2014), new patio for the 2nd floor apartment (2012), new video intercom system and upgraded electrical throughout building (2011).
Within a few blocks of the 14th Street MTA Station (1, 2, 3, L), Union Square MTA Station (4, 5, 6, L, N, R, Q), the 9th Street PATH Station (Blue, Orange), and the Avenue of the Americas/10th Street M5 bus.