Besen and Associates, Inc

Real Estate Weekly, Feb 2, 2000

Besen and Associates, Inc. is marketing an exclusive property at 78 East 3rd Street in the hot East Village section of Manhattan.

Adelaide Polsinelli, senior executive broker at Besen, is handling the property, which is located between First and Second avenues. Two renovated residential buildings are situated on the 25 x 100-foot lot, which includes a three-story, 14-unit structure, as well as a four-story, six-unit building. Built at the turn of the century, each building has its own private courtyard and has light and air on three sides.

Many of the apartments have amenities such as exposed brick walls and new fixtures. The building's previous owners maintained the property and renovated it extensively, providing future owners with the charm of an older building that is free of the headaches associated with the renovations of older buildings.

Located on one of the safest blocks in the East Village, this property offers the new owner the security of a steady demand of affluent tenants. Two apartments, a one-bedroom and a studio, will be delivered vacant. In addition, many of the current rents are below market levels, with nothing but upside.