108 1st Ave Unit 1, New York, NY, 10009

About This Home

108 1st Avenue, a mixed-use property located in the highly desirable East Village neighborhood of Manhattan. The property consists of four (4) residential apartments and one (1) ground-floor retail space. Due to the limited residential unit count, the building is statutorily deregulated, providing investors with the flexibility to adjust rents in line with market conditions and inflation. The asset has recently undergone a comprehensive gut renovation, including all new electrical and plumbing systems. Each residential unit is thoughtfully outfitted with in-unit washer/dryers and dishwashers, offering modern convenience and strong appeal to tenants. The retail space is currently leased to UPS at a below-market rent, presenting a compelling opportunity for future income growth. Upon lease expiration in 2030, ownership has the potential to significantly increase rental income, with projections indicating the ability to at least double the current rent.