This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.
This Residential Property is no longer advertised on LoopNet.co.uk.

506 E 6th St
New York, NY 10009

Residential Property For Sale · 14 Units

PROPERTY FACTS

No. Units 14
Property Type Residential
Property Subtype Apartment
Apartment Style Mid Rise
Building Class C
Lot Size 0.06 AC
Building Size 6,825 SF
Number of Floors 5
Year Built 1920

About 506 E 6th St , New York, NY 10009

Besen & Associates, as exclusive agent for Ownership, is pleased to offer for sale 506 East 6th Street, New York, NY 10022 (the “Property”) located in the East Village neighborhood of New York City. The existing Property consists of a 5-story walkup building with 14 apartments (11 FM / 3 RS), totaling approximately 6,825± square feet. Built circa 1920 and renovated in 1987, the Property is ideally located on the south side of East 6th Street between Avenue A & Avenue B in the heart of the East Village, and within walking distance of the M14A bus, the L train on 14th Street, the 6 train at Astor Place, and the 2nd Avenue F train along Houston Street. The 100% occupied Property, which is situated one block south of Tompkins Square Park and minutes from the FDR Drive, is comprised of nine (9) studios and five (5) one-bedroom residential units. The studios are averaging $1,700/month and the one-bedroom units are averaging $2,375/month, which represent a 25%-30% discount to current market rates. The 14 apartments overall are renting at well below market rates with an average monthly rent of $1,950, offering significant upside to new ownership. In summary, the in-place rents at the Property are substantially below market and the building is in good physical condition and has been very well maintained, evidenced by its continuous 100% occupancy. As the East Village continues to develop, 506 East 6th Street is well positioned to take advantage of the continued high demand for this neighborhood, the increasing market rents, and the opportunity for an investor to reposition the tenancy and capture the upside potential.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0401-0013
Land Assessment
£107,382
Improvements Assessment
£611,360
Total Assessment
£718,742

zoning

Zoning Code R7B (Medium-density apartment house district with lower parking requirements)
R7B (Medium-density apartment house district with lower parking requirements)
  • Listing ID: 14261746

  • Date on Market: 02/11/2018

  • Last Updated:

  • Address: 506 E 6th St, New York, NY 10009

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}