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Deals & Dealmakers

West Village building asking $32.7M

Marcus & Millichap just announced the listing of 12 Perry Street in Manhattan’s West Village, one of New York City’s booming neighborhoods.

The asking price for the 20,474-square foot multifamily property is $32.7 million.

The listing agents are Peter Von Der Ahe, Joe Koicim, David Lloyd and Noah Kossoff of Marcus & Millichap’s Manhattan office. The property owner is Major Associates LLC.

“The offering represents a rare opportunity to acquire a six-story, elevator building in the heart of the West Village,” said Koicim. “This trophy asset, which has been owned by the same family for over 40 years, features 96 feet of retail frontage and tremendous upside in both the retail and residential portions.”

The building allows an investor to gain an immediate large footprint in the West village. Located on 7th Avenue South between Perry and Charles, this property sits in the heart of the City’s most desirable neighborhood.

The property is ripe to be repositioned into a luxury rental building and also offers condominium conversion potential.

Built in 1940, the six-story building has 21 residential units and along with ground-floor retail.

At approximately 75 percent Free Market, the property allows for an investor to capture immediate upside the below market residential free market unit rents, future upside in the rent stabilized units and the ability to reposition the retail.

Near Washington Square Park, the Sheridan Square Viewing Garden, McCarthy Square, Jefferson Market Garden, and in close proximity to The Path, 1, 2, 3, A, B, C, D, E, F, and M, subway lines, this location offers terrific access to transportation, restaurants, and other amenities in the West Village neighborhood.

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