316 West 11th Street

JLL has been retained on an exclusive basis to arrange for the sale of 316 West 11th Street a 32’ wide, 4-story, mixed-use building located on the southwest corner of West 11th and Greenwich Streets (a.k.a 750 Greenwich Street). The 100% Free Market building is tax class protected and located in the heart of the West Village. The property is currently configured as 5 apartments over one store and offers purchasers the flexibility to convert to full residential use in the near term.  

316 West 11th Street benefits from 76’ of wraparound corner frontage providing excellent light on three exposures. The building has been well maintained and the apartments consist of a diverse mix of layouts that will benefit from the significant demand for prime West Village housing. The neighborhood continues to be one of the most desirable and dynamic neighborhoods in New York City evidenced by the area’s extremely tight housing supply, strong post-pandemic rent growth trends and elevated sales values. As recently as January of this year The Wall Street Journal ranked the West Village as the most expensive residential neighborhood in the city, boasting an average median price per square foot of $2,366.

As currently configured, the apartments feature a diverse mix of layouts: two studios, two one-bedrooms and a floor through two-bedroom / two-bathroom. All of the units have been renovated to include stainless steel appliances and two units (3S & 4) have in-unit washer/dryers. Additional laundry machines are available for all tenants in the basement. The studios are currently leased for an average of $3,600 / month, the one-bedroom for $5,500 / month and the two-bedroom for $8,950 / month. The store is leased to 11th Street Laundry and Cleaners (drop off only) through August of 2028 and can be terminated sooner if desired by future ownership. The space could be converted back to another apartment or combined with the remainder of the apartments to create a single-family home.