PRESS RELEASE: Avison Young Named Exclusive Sales Agent for Mixed-Use Building at 19 First Avenue in the East Village

Four-story building located in the heart of one of lower Manhattan's most sought-after neighborhoods

New York City – The Tri-State Investment Sales Group for Avison Young has been named the exclusive agent for 19 First Avenue, a 3,213 square foot, three-unit building in Manhattan’s East Village neighborhood. The asking price for the property is $4 million.

 

The four-story building is comprised of two residential 100% free-market units along with a retail space on the first floor. The property includes a duplex unit with a finished and landscaped roof deck on the top two levels and a one-bedroom unit on the second level. The 1,275-square-foot retail unit is occupied by renowned restaurant Lil Frankies. The property is in tax class 2A, which limits the amount its taxes can be raised, and benefits from close to 1,200 square feet of air rights and is not located in a historic district.

 

An Avison Young team led by Principal and Head of Tri-State Investment Sales James Nelson, Senior Director Brandon Polakoff, Associate Director Alexandra Marolda and Associate Jeremy Stenberg are marketing the property on behalf of ownership. 

 

“This is a unique opportunity to acquire a mixed-use property with a strong retail tenant. The property is located in one of the East Village’s most desirable locations and is well positioned for an investor or end user,” said Polakoff.

 

The building is surrounded by several shops, restaurants and both Sara D. Roosevelt Park and Tompkins Square Park. The property is also only steps away from multiple transport alternatives ranging from different bus routes to the F train stop at Second Avenue and the F, M, J, and Z train stops at Delancey St. The neighborhood also enjoys access to major roadways such as the FDR Drive and the Williamsburg Bridge.