Overview

$1,500,000

20% Min Down

18 Spring St #5

18 Spring Street, New York, NY 10012

For sale in NoLita

1 Bed | 1 Bath | 1.29% Cap Rate

Listed Jan 22nd, 2020
HISTORIC HEART OF NOLITA for cash buyer. Surrounded by the thriving dining scene, classic turn of the century buildings, boutique shops and forward looking architecture the top floor one bedroom with hidden garden courtyard is in a one of a kind location behind the front building for your peaceful escape from city life. The light-filled living room with fireplace spans the entire width of the building and overlooks the garden. Sunshine fills the generously sized bedroom with natural light through multiple windows. Centered in the floor-through apartment is the kitchen area and separate bathroom. Included in the sale is a first floor rear studio, roof rights and air rights. It may be possible to build up from the roof and approvals are needed. The first floor rear studio has a 21 x 12 living area, three closets, kitchen and bath. Laundry is conveniently located in the basement and your pets are allowed. The monthly charge and real estate tax is for both apartments. The non-elevator building is a partnership and all cash is required for purchase. Both apartments have rent stabilized tenants.

The 4,500 square foot building, while retaining its original fa?ade, was rebuilt in the 1980's with new roof, boiler, windows, metal staircase, electrical and plumbing systems, and many new joists. The roof was replaced in 2017 and the boiler was replaced a few years ago. The building is approximately 23' x 35' on a lot that is 23' wide and 53' deep.

Set between Mott and Elizabeth Streets the building is a few blocks from the green space of Sara D. Roosevelt Park, Lt. Petrosino Square, DeSalvio Playground and the unique Elizabeth Street Garden. Whole Foods Market and cultural sites are very close. The exciting downtown location is surrounded by subway lines J/Z/4/6/B/D/R/W for easy access to the entire city. Please call for more details. This is a Co-Exclusive.

Features & Amenities

Unit Amenities

  • Courtyard
  • Garden
  • Laundry in Building
  • Dogs Allowed
  • Cats Allowed
  • Exposure: North South

Building Amenities

  • Courtyard
  • Garden
  • Laundry in Building
  • Dogs Allowed
  • Cats Allowed

Building Policies

  • Cats Allowed
  • Dogs Allowed
Learn more about 18 Spring Street, New York, NY 10012

Listed By

Carol W. Landon

Elliman

(212) 727-6145

History

Date Event Price
May 27, 2021 Price Drop $1,500,000
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Feb 12, 2020 Relisted -
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Jan 22, 2020 Listed $3,000,000
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Property Analysis

Price Estimate

$1,515,000

HopScore Market Price

$1,500,000

Current Asking Price

+$15,000

Difference from Asking

Cap Rate Analysis

Operating Profit

$19,284
/

Purchase Price

$1,500,000
=

Cap Rate

1.29%
**

* Actual income may vary between $2,666 and $3,998 depending on unit-specific characteristics.

** 100% occupancy is assumed. Leverage (mortgage) is not considered.

Comparables

Units for sale near 18 Spring St

Unit Br Ba ft² Closed Price
Common Charges

Units for rent near 18 Spring St

Unit Br Ba ft² Closed Price
Common Charges

Building Info

Want to find out who owns 18 Spring Street, New York, NY 10012? Get detailed property transactions here.

Neighborhood

Stats & Trends

-

Median Asking

-

Above Asking

-

Sale Price/ft²

-

Days on Market

Transportation

J

Z

at Bowery Under 500 ft | 3 min walk

6

at Spring St 950 ft | 4 min walk

B

D

at Grand St 0.22 mi | 5 min walk

F

at 2nd Av 0.24 mi | 6 min walk

N

R

at Prince St 0.28 mi | 7 min walk

Schools

School Type Grades Distance
PS 130 HERNANDO DE SOTO Elementary PK to 5 0.25 mi
MS 131 Middle School 6 to 8 0.34 mi
INSTITUTE FOR COLLABORATIVE EDUCATION High School 6 to 12 1 mi
FORSYTHE SATELLITE ACADEMY High School 9 to 12 0.24 mi
NEW EXPLORATIONS INTO SCIENCETECH AND MATH HIGH SCHOOL Other KG to 12 0.83 mi
PS/IS 137 RACHAEL JEAN MITCHELL Elementary PK to 8 4.91 mi
ANDERSON SCHOOL (THE) Elementary KG to 8 4.23 mi
BROOKLYN BROWNSTONE SCHOOL Elementary PK to 5 4.14 mi
EMMA LAZARUS HIGH SCHOOL High School 9 to 12 0.34 mi
School zoning information and other data are provided by RealtyHop Schools and 3rd party sources. The contents of the database are not guaranteed to be accurate or timely. Contact the schools or districts before making any decisions using on this data.

Mortgage Payment Calculator

$7,930

Per Month

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Recent Transactions at 18 Spring St

Transaction history for 18 Spring Street

Unit Br Ba ft² Listed Listing Agent Asking
HOA + Tax
Closed Closing Buyer(s)
Unit - - - - - - - May 24, 1991 - Beatrice Aparo
Unit - - - - - - - Oct 27, 1982 - 18 R Spring St Rltyco
Unit - - - - - - - Jul 8, 1982 - Pryor Dodge
Unit - - - - - - - Jul 15, 1980 - 18r Spring St Rlty Co
Unit - - - - - - - Jun 17, 1980 - Vincent Aparo
Unit - - - - - - - May 12, 1980 - Philip Vaccarino
Unit - - - - - - - Apr 1, 1980 - Floyd N Byars
Unit - - - - - - - Jun 17, 1977 - Vaccarino Real Est Corp
Unit - - - - - - - Dec 5, 1975 - Philip Vaccarino
Unit - - - - - - - Apr 28, 1969 - Domenica Montelbano
Philip Varrarino

Apartments for Sale at 18 Spring Street

UnitBrBaft²ListedListing AgentAskingPrice/ft² HOA + Tax Floorplans

Apartments for Rent at 18 Spring Street

UnitBrBaft²ListedListing AgentAskingPrice/ft²Floorplans

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Learn more about 18 Spring St #5

Building at 18 Spring Street, New York, NY 10012

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