59 Greenwich Avenue - Greenwich Village, New York
Originally built for William Van Hook in 1844-1845, this four story mixed use building is located on Greenwich Avenue between Perry Street and Seventh Avenue. The property is configured with a retail space on the ground level, which includes approximately two-thirds of the basement, plus three residential units are on the upper floors. All three residential units are fair market. The property is located in the Greenwich Village Historic District. Greenwich Lane, the new Rudin development, has helped to make Greenwich Avenue the next "go to" location for retailers and restaurateurs. 59 Greenwich Avenue is an excellent investment opportunity for the purchaser seeking to either maintain the strong existing cash flow or, should the investor choose to make improvements, they could see a healthy return on their investment in one of the most coveted neighborhoods in Manhattan. The property presents excellent options for a user to convert the above floors to single family residence while collecting income from the ground floor. Additionally, an investor may look to utilize the long term upside in the retail rents. Opportunity awaits the next owner regardless of the direction they choose to take.
This listing courtesy of Douglas Elliman