© 2017 Spirit Investment Partners

285 West 12th

A 5 story, mixed use building located on the north side of West 12th Street between 8th Avenue and West 4th Street.  Originally built as two separate buildings in 1841, the buildings were combined as one in 1928.  The building is configured with a restaurant on the lower level with residential units above.  The restaurant, The Beatrice Inn, is an iconic West Village eatery and cocktail bar with a lease through January 2021. The property benefits from 1,507 square feet of unused air rights and is located in the Greenwich Village Historic District. 

Greenwich Village, often simply called “The Village” by locals, is one of Manhattan’s richest neighborhoods. The Village has both a fascinating history and exciting and dynamic present. It has drawn the attention over the years of everyone from the proverbial starving artists and street buskers to the most successful academics and fashionistas. While many people have their own denitions of the boundaries of The Village, it is traditionally considered to be bounded by Houston Street to the south, 14th Street to the north, Broadway to the east, and the Hudson River to the west. The adjacent neighborhoods include the Meatpacking District and Chelsea on the north side, the East Village and NoHo on the east side, and SoHo on the south side.

Most of the residential units are in poor condition and therefore not able to command rents similar to comparable properties in the market.  Units will receive a high end renovation that will include refinished hardwood floors, all new kitchens containing stainless steel appliances, new modern cabinets and countertops, tile backsplashes and plumbing fixtures, as well as new bathroom tile and vanities. The new and improved units will retain the special character of the neighborhood while giving tenants a refreshed apartment with modern appliances and hardware.