Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

952 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Adam's Court 41 Avenue B 21 Unit Apartment Building $25,992,001 CAD ($1,237,714 CAD/Unit) New York, NY 10009

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Executive Summary

Ariel Property Advisors has been retained on an exclusive basis to arrange the sale of 41 Avenue B, a premier 7-story elevator mixed-use building located between E 3rd and E 4th Streets in the heart of the East Village.

The Asset
Constructed in 1999, 41 Avenue B is impeccably maintained & managed by the property’s original developer. The building contains 23 residential units over a ground commercial unit on the ground floor that is occupied by a popular, highly rated Japanese omakase restaurant.
The residential unit mix consists of 10 one-bedroom units, 11 two-bedroom units, and 2 three-bedroom units. The expiration of a 421A tax abatement and unit turnover has led to 22 of the units enjoying free market status and the one remaining rent stabilized apartment will revert to free market status upon vacancy.
Tenants enjoy a full amenity package that includes a virtual doorman, shared outdoor space in rear yard, a laundry room, and bicycle storage.
Though all residential units are in excellent condition, enjoy abundant light and air and contain coveted private outdoor spaces, additional upside can be realized with modest cosmetic upgrades to the units and common areas.

Dynamic East Village Location
Located in the heart of the East Village— one of Manhattan’s most dynamic, “live-work-play” neighborhoods—41 Avenue B is ideally positioned to capitalize on the area’s surging rental demand. 41 Avenue B is steps away from the newly revitalized East River Park, Tompkins Square Park and many of the best retail, dining, and nightlife options that New York City has to offer. The property benefits from a host of nearby public transportation options, including the F/M and J/Z trains at the Delancey / Essex Street station, and the L train at the 1st Avenue station. The Williamsburg Bridge and FDR Drive provide multiple commuting options.

The Opportunity
41 Avenue B presents investors with the ideal combination of strong, reliable existing cash flow and significant potential upside with limited capital requirements.

For more information, please contact the exclusive sales agents.

Brochure

Property Facts

Price	$25,992,001 CAD	Building Class	B
Price Per Unit	$1,237,714 CAD	Lot Size	0.11 AC
Sale Type	Investment	Building Size	17,646 SF
No. Units	21	Average Occupancy	100%
Property Type	Multifamily	No. Stories	6
Property Subtype	Apartment	Year Built	1999
Apartment Style	Mid-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R7A

Price	$25,992,001 CAD
Price Per Unit	$1,237,714 CAD
Sale Type	Investment
No. Units	21
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Mid-Rise
Building Class	B
Lot Size	0.11 AC
Building Size	17,646 SF
Average Occupancy	100%
No. Stories	6
Year Built	1999
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R7A