James Kinsey, CEO & partner of ERG Property Advisors, has completed the sale of 205 Ave. A. The property is located on the north side of Ave. A between 12th and 13th Sts. Kinsey represented both the buyer and seller.
The property is a four-story walk-up apartment building containing nine, two-bedroom units. It is 7,722 s/f and is situated on a 2,500 s/f lot. The property sold for $3.45 million with a cap rate of 4.69%.
The building currently contains four rent-stabilized apartments. All four units can be delivered vacant. One street level unit may be converted into a commercial space. Tags: