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Cogent Realty Advisors has arranged the sale of a NYC apartment building located at 34 1/2 St. Marks Place for $8,400,000. The 7,692 square foot six floor walk-up building contains 11 apartments and one store. The building was purchased for the equivalent of $1,092 per square foot by a local property owner.
34 1/2 St. Marks Place is more than 100 years old and classified by NYC as an Old Law Tenement. This 1879 law required that every inhabitable room have a window opening to plain air, a requirement that was met by including air shafts between adjacent buildings. Floor plans are found on the adjacent illustration. The building’s apartments are 100% occupied with approximately half rented by students enrolled at nearby New York University and Cooper Union.
St. Marks Place (8th Street) is the epicenter of the East Village and a popular shopping, dining and nightlife destination for students and tourists. For information about its long and storied history link to the Curbed New York article “The Strange History of the East Village’s Most Famous Street” HERE.
Cogent Realty Advisors is an independent and licensed NO FEE Realtor with over 15 years of experience representing NYC businesses that buy, sell and lease commercial real estate. For information, phone Mitchell Waldman at (212) 509-4049.
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