Olshan Realty Inc. Listings

Townhouse Report Created: Saturday, December 1, 2018 - Listings Shown: 1

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110 West 15th Street (Click address for more details)		Listing #: 178064
Price: $8,750,000 Approx Sq Ft: 5,200	Nghbd: Chelsea

Built in 1890, this lovingly maintained and superbly located Italianate style brownstone in Chelsea, was originally built as a single family and is now quite the investment! Comprised of renovated, FREE MARKET units (4 total, with 3 units that may be delivered vacant, if desired, and one with a short lease), and with approximately 4,828SF in air rights on a non-landmarked street, there is unlimited potential for an addition, conversion to condominium (or an even larger development when purchased with the building next door) or recreating a single family home. Close to Trader Joes, 6th Ave shopping district, PATH, Union Sq and multiple subways, this home is an incredible opportunity for appreciation. Multi Family Townhouse Apts- Owners duplex + 3 Apts ALL FM Bldg Dimensions- 20ft x 52ft Lot - 20ft x 83.25ft Building class- Four family C6-2A Built- 1890 Air Rights Available: 4,828 SF Residential Square Footage: 5,200 Rent Roll: Owners Duplex- $10,000 Projected Apt 2- $5,475 Actual ; $5,850 projected Apt 3- $4,820 Actual ; $5,500 projected Apt 4 - $4,620 Actual ; $5,200 projected Total Per Month: $24,915 Actual ; $26,550 Projected Total Annual: $298,980 Actual ; $318,600 projected Expenses: Taxes- $55,599 Actual Gas/ Electric- $4,500 Actual Insurance- $4,000 Actual Net Operating Income (NOI)- $234,881 Actual ; $254,501 Projected Additional Details: The owner's duplex features a gourmet custom chef's kitchen, gracious formal dining room, soaring ceilings over 11 feet tall, a sun-blasted great room overlooking lush gardens, two king-sized bedrooms, two and a half renovated bathrooms, stacked washer/dryer, two walk-in closets, exposed brick, two wood-burning fireplaces, and direct access to the garden and a full basement. Each of the three income producing units upstairs maintain two bedrooms, one renovated windowed bathroom and a modern kitchen with mainly stainless steel appliances and granite countertops, along with custom cabinetry. All have high ceilings, exposed brick, wood-burning fireplaces and washer/dryers in unit. The top floor has two skylights. The basement has over 6 foot ceilings, is well organized with all mechanicals and offers ample space for storage. Truly an incredible home!

All information regarding a property for sale, rental or financing is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description. All measurements and square footages are approximate and all information should be confirmed by customer.