Monday, November 18, 2013
Real Estate Monday: Opportunity Knocks
219 13th Street
A non-Times listing today. TerraCRG, a company handling many large-parcel developments sales, including the recent $20 million sale of a site at Fourth & 11th (see below)
has a multi-family building for sale at 13th & Fourth, for $12,950,000.
"There is considerable upside in the offering as the seven rent-stabilized units pay an average of $811 per month for two and three bedroom apartments worth approximately $2900 and $3900 per month. This property also presents a near-term opportunity for condo conversion as eighteen of the twenty-five units will be destabilized by the end of 2013. The demand for condominium units (sic - the sentence remains unfinished) "