13-15 Christopher Street — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: New York, NY 10014

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13-15 Christopher Street — Sale in New York, NY, photo 1 of 2
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Investment Figures

Cap rate
5.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to offer the following opportunity located in the heart of the West Village. 13-15 Christopher Street is situated on the north side of Christopher Street between Gay Street and Waverly Place. The property boasts an approximate gross square footage of 8,280, is zoned R6, and is built 40 ft x 40 ft on a 40 ft x 90 ft lot (Block: 610; Lot: 66). With 6 out of the 7 residential units being free-market and in-place rents sitting well below what the West Village commands, the opportunity features considerable free market rental upside. The asset spans studios, 1-bedrooms, and large 4-bedroom layouts across the residential component, with natural diversification across renter profiles. The standout is the carriage house, a 5-bedroom, 4.5 bath apartment rented MTM providing an opportunity for a live + income investment or immediate rental upside. The commercial component is anchored by Maverick House's recently signed 10-year leases on the lower stores, with the upper stores providing near-term upside. 13-15 Christopher Street sits steps from Sheridan Square and Washington Square Park, surrounded by the dining, retail, and cultural fabric that makes the West Village one of the most enduringly desirable addresses in the country. The Greenwich Village Historic District designation eliminates new competitive supply in the area ensuring the scarcity that has always driven rents here. Investment Highlights: • 13-15 Christopher Street is a mixed-use asset, consisting of 11 units -- 7 residential units plus a one-of-a-kind carriage house -- and 4 commericial spaces. • Tax Class Protected: 2B | Zoning : R6 | Frontage: 40 FT | 86% Free Market • 13-15 Christopher Street has direct access to the 1 train at Christopher Street and the A/C/E/B/D/F/M lines at West 4th Street providing seamless access to all Manhattan.

Market Context

This mixed use in New York, NY is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing mixed use assets. Compare it against other mixed use listings for sale in New York, NY — view the full market.

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