Four East Village rental buildings on sale for $32M

January 03, 2013 11:30AM

A portfolio of four East 4th Street apartment buildings — three of them adjacent  to one another — have hit the market with an asking price of $32 million, EV Grieve reported. The buildings are 195, 199, 201 and 203 East Fourth Street, located between Avenues A and B.

The four lots have a combined 100 feet of frontage and 27,700 square feet, according to the listing, with Massey Knakal’s Bob Knakal, John Ciraulo, Michael DeCheser, Craig Waggner and Darragh Clarke.

There are 46 units total in the portfolio divided between 40 fair-market and six rent-stabilized apartments. Further broken down, 18 apartments are one-bedrooms, two are two-bedrooms, 21 are three-bedrooms, two are four-bedrooms and three are five-bedrooms.

The market rate units have undergone a gut renovation, the listing says. The common areas throughout the buildings have also been renovated, and there have been additional improvements to the electric system, as well as an installation of a new intercom system.

Alphabet City, once known for its drugs and violence, is now seeing skyrocketing rents, as well as new residential developments. [EV Grieve] —Zachary Kussin