302 E 12th St 8 Unit Apartment Building $8,500,000 ($1,062,500/Unit) 6.05% Cap Rate New York, NY 10003

Cushman & Wakefield (“C&W”) has been exclusively retained to offer for sale the 100% fee simple interest in 302 East 12th Street (the “Property”), a 5-story mixed-use walk-up building located on the south side of East 12th Street between 1st and 2nd Avenues in the heart of the East Village, New York, NY. The Property has 22 feet of frontage along East 12th Street, spans 7,719 SF above grade, and includes an additional 1,364 SF below grade, with approximately 1,333 SF of additional air rights available.
The building features 8 residential units and 1 ground-floor retail unit. The residential units consist of 5 fair market and 3 rent-stabilized apartments, with 2 units per floor. Of these, all 5 fair market units, along with rent-stabilized Unit 2, are 2-bedroom, 1-bath units, while rent-stabilized Units 6 and 8 are large 1-bedroom, 1-bath units. The rear second-floor unit boasts a large private terrace. Recently, 7 of the 8 residential units, including all 5 fair market units and rent stabilized units 2 and 8, have undergone
complete gut renovations, leaving the Property with no deferred maintenance.
The retail space is occupied by John’s of 12th Street, a neighborhood institution that has been in operation since 1908 and recently signed a new 10-year lease in May 2022.
302 East 12th Street presents a unique investment opportunity in a prime East Village location.
Owned by the same family for 40 years before its acquisition by an international investment group, the Property has since undergone a full renovation, completing the business plan and creating a turn-key, stabilized trophy investment opportunity for investors. Conveniently located just 6 blocks from Cooper Square, this is an unparalleled asset in one of New York City’s most vibrant neighborhoods.