In Manhattan, an apartment with a tenant is being sold, and it will not be possible to evict him

An unusual offer has appeared on the Manhattan real estate market. A luxury loft in Greenwich Village is up for sale for $4 million. In this case, the buyer will purchase the property together with a tenant who pays much less than the average rent in the area and who cannot be evicted. Insider.

According to the information provided in the announcement of the agency Compass, the current tenant pays a fixed rent of $2 per month (almost half the average rent for such an apartment in the area). However, he cannot be evicted. city ​​rules New York City allows a fixed lease tenant to continue the lease even if the owner of the property changes.

In addition, there are restrictions on the amount of rent, and it can only be increased by a certain percentage per year. Interestingly, the rent he pays now doesn't even cover the total apartment maintenance and utilities costs, which are $2 a month. Monthly taxes for this kind of apartment exceed $802.

A tenant pays about $40,50 per square foot per month, nearly half the average rent in Manhattan, according to data. Miller samuel.

The building, located at 12 East 12th Street, was built in 1907 and has 12 floors. Lawyer Steven Hochberg, representing the seller, noted that the tenant has lived in the apartment since at least the 1980s, when the building was converted into a condominium.

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The 500 square meter loft includes three bedrooms and three bathrooms, as well as "panoramic windows to the north, south and east." Despite this, there are no photos of the interior and views from the windows of the apartment in the ad.

The price of this loft is approximately $690 per square foot, which is several times lower than the average price for the sale of apartments in Manhattan. Douglas Elliman and Miller Samuel estimated the average sale price for similar apartments in Manhattan at $2 per square foot.

The announcement for the sale of this apartment appeared more than two months ago, and according to it, housing is available only for "investors". Realtors describe the offer as a "rare opportunity" to buy an apartment in Manhattan at a relatively low price.

It is worth noting that in the same building, a five-bedroom apartment was sold in February for $9,5 million, and an apartment on the tenth floor was sold for $10,75 million in April.