$8,248,000

87 1st Ave New York, NY 10003

East Village Neighborhood

Estimated payment $50,399/month

Total Views 4,055
-- Bed
-- Bath
11,158 Sq Ft
$739 Price per Sq Ft

Highlights

  • Wood Flooring
  • Back Yard
  • 4-minute walk to First Park
  • P.S. 110 Florence Nightingale Rated A-

About This Home

Prime East Village Location! Income-generating Brick 1 Store plus 16 Family with Huge Upside Potential! 12 Units of 1 Bedroom with 4 Units of 2 Bedrooms. This multi-unit property boasts 1- 2-bedroom units, perfect for growing families or young professionals. Building will be sold "as-is" with 1 store Vacant, 5 units Vacant (3 Unit 1 bedroom and 2 Units 2 bedrooms) and 11 Units with tenants already in place, providing immediate rental income. Close to shopping, and Few Minutes to the F train.

Listing Agent

Peter Pan

RE/MAX Edge License #10401215383 Listed on: 06/10/2025

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $84,670

Year Built

  • Built in 1920

Lot Details

  • 2,425 Sq Ft Lot
  • Lot Dimensions are 100 x 24
  • Back Yard
  • Property is zoned R7A

Home Design

  • Mixed Use
  • Flat Roof Shape
  • Brick Exterior Construction
  • Poured Concrete

Interior Spaces

  • 11,158 Sq Ft Home
  • Basement Fills Entire Space Under The House

Flooring

  • Wood
  • Tile

Utilities

  • Heating System Uses Gas
  • Gas Water Heater

Listing and Financial Details

  • Tax Block 447

Community Details

Overview

  • 16 Units
  • 5-Story Property

Building Details

  • Fuel Expense $21,000
  • Insurance Expense $36,000
  • Utility Expense $1,319
  • Gross Income $722,680

Property Details

Property Type

Other

Est. Annual Taxes

$84,670

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Basement Amenities: Full
  • Borough: Manhattan
  • Building Length: 100.00
  • Building Width: 24.00
  • Commercial Condo Y N: No
  • Commercial Features Exterior: Other
  • Commercial Features Interior: Other
  • Confirmed By M L S Y N: Yes
  • Cross Street: 2nd Ave
  • Cross Street Name2: Brooklyn Ny
  • Heat Delivery: Other
  • Number Of Families: 16
  • Parking Attributes: Other
  • Parking Feature Single: Other
  • Property Sub Type: Mixed Use
  • Prop. Type: Mixed Use
  • Fill Sq Ft Total: 11158
  • Building Stories: 5
  • Street Name I D X: 1st
  • Year Built: 1920
  • Special Features: None
  • Stories: 5

Interior Features

  • Flooring: Hardwood, Tile, Other
  • Lot Sq Ft: 2425

Exterior Features

  • Yard: Back
  • Exterior Building Type: Semi-Detached
  • Construction Type: Brick
  • Exterior: Brick, Other
  • Foundation Details: Poured Concrete
  • Lot Number: 33
  • Roof: Flat

Utilities

  • Electric: Other
  • Heating Fuel: Gas
  • Hot Water: Gas

Fee Information

  • Annual Fuel Expense: 21000.00

Lot Info

  • Lot Size Irregular: No
  • Lot Size Length: 100
  • Lot Size Width: 24
  • Zoning: R7A

Multi Family

  • Annual Gross Expense: 155904.00
  • Annual Gross Income: 722680
  • Insurance Expense: 36000.00
  • Miscellaneous Expense: 3840.00
  • Unit Count: 17
  • Annual Utility Expenses: 1319.00

Tax Info

  • Flip Tax Amount: 84670.00

Map

Range of Values:

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Value Increase
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Percent Increase
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/20/2025 11/20/25 Price Changed $8,248,000 0.0% $739 / Sq Ft
11/05/2025 11/05/25 Price Changed $8,250,000 -2.9% $739 / Sq Ft
10/03/2025 10/03/25 Price Changed $8,500,000 -5.6% $762 / Sq Ft
07/03/2025 07/03/25 Price Changed $8,999,999 +12.5% $807 / Sq Ft
07/02/2025 07/02/25 Price Changed $7,999,999 -11.1% $717 / Sq Ft
06/10/2025 06/10/25 For Sale $8,999,000 -- $807 / Sq Ft
Source: Brooklyn Board of REALTORS®

Source: Brooklyn Board of REALTORS®

MLS Number: 493314

Brooklyn Board of REALTORS®

APN: 00447-0033

New York New York County New York 10003 East Village

87 1st Ave, New York, NY

For Sale

Other

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Peter Pan
Listing Agent
Peter Pan
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RE/MAX Edge
(347) 575-1849