75 St Marks Pl
First & Second East Village
This home has been sold
We have 7 similar homes for sale.
- 4th floor -- residential
- Third floor -- residential
- Second floor -- residential
- First floor -- residential
- Ground floor -- bar
4th floor -- residential
2 bedroom, interior office, 1 bath. Renovated 2001. Significantly under market rent, month-to-month lease.
Third floor -- residential
2 bedroom, interior office, 1 bath. Renovated 2002. Significantly under market rent, month-to-month lease.
Second floor -- residential
2 bedroom, 2 bath. Complete gut renovation 2011. Excellent condition, all new floors, appliances, bathrooms, windows and electrical.
First floor -- residential
2 bedroom, interior office, 1 bath. Partially renovated 2011. Lease expires 4/1/2012.
Ground floor -- bar
The Holiday Cocktail Lounge. Owner managed, 1 year lease.
- Approx. Sq. Ft.6,240
This is a rare opportunity to own a premium mixed use building on St. Marks Place. Located between 1st and 2nd Avenues, and home to the famous Holiday Cocktail Lounge, 75 St. Marks Place stands out as an excellent and flexible financial investment.The building has been owned by one family since 1973, meticulously cared for and in excellent condition. It contains the Holiday Cocktail Lounge on the ground floor (scene of innumerable TV and film shoots), 4 free market, 1250 square-foot apartments, one of which was completely renovated this year. The remaining three residential units are 2 bedroom + home office, one bathroom apartments, and are substantially below market rent, offering significant upside potential. All are very attractive, with soaring ceilings, Southern exposure, and large enough to feel like a home to any occupant. Two apartments are month-to-month, with the third lease expiring early 2012 so the rent roll is poised to increase substantially. The commercial lease is controlled by the owner, so it can be delivered vacant or the Holiday Cocktail Lounge continued. It is a long-run financial success made all the more valuable by considerable additional income as a film location. In addition, with a 4.0 FAR, there are ample air rights to expand in the event of a condo conversion, a great alternative given the paucity of condos in the area. Based on actual income and expenses, the NOI is $230,000. Call or email for a complete setup.
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Downtown on the East Side, from Houston to 14th Street and from the Bowery and Third Avenue to the East River.
Whether it’s the mushrooming of modern new condos or the reclamation of some beloved parks, few neighborhoods have changed as much over the past couple of decades as the East Village. The growth of New York University to the West has helped drive the East Village’s renaissance, so that old-fashioned retail like hardware stores stands cheek-by-jowl with shops where you can buy all kinds of trendy luxury. Much of the East Village housing stock is tenement-style walkups with co-ops for sale or rentals that make great shares, but some offer hidden delights like roof decks and garden access to their residents. If it’s an elevator and a Bulthaup kitchen you’re seeking, head over near Avenue B to check out the jazzy new condo developments.