A new-construction West Village townhouse just went on the market, but the 3BR/4BA unit with four outdoor spaces and rooftop hot tub comes with a small catch that could be a cash cow?a restaurant on the ground floor soon to be helmed by a mysterious figure the broker will only call a "high end restaurateur." But look on the bright side: as a landlord, in addition to ambient odors and hungry crowds outside the door, maybe you'll also get some free food. Plus, the minimum of $180,000 in rent each year that'd flow in would nicely offset the annual taxes of $20,344... with lots of room to spare.
430 Hudson Street, between Morton and Leroy, was built in 1910, but its old-school facade is all that remains following a recent total overhaul of the interiors; it most recently sold to an LLC for $2.8 million in July 2010. The sellers are keeping the new price hush-hush, but a comparable townhouse nearby at 81 Barrow Street, which was redone by the same folks minus the income-generating eatery at the bottom but including a giant aquarium (you do the math), sold a few years back for $12M after asking $16M.
With 3,674 square feet of indoor space spread over four floors and four terraces totaling 1,380 square feet, it's basically a luxurious manse that needs some renovation work to turn the fourth floor into a master suite worthy of the rest of the house. Good news, though: The sellers have promised to deliver that level finished according to the specifications of the buyer.
The brokerbabble (PDF) exclaims about the private elevator, heated marble floors and steam shower in the bathrooms, a wood-burning fireplace on the second floor, and flooring throughout made of reclaimed oak barn wood. An entertainment system with custom speakers is already built in. And the rooftop garden doesn't just have a hot tub?it's also got views of the Empire State Building and One World Trade Center. Is all that worth living above what, for all we know, being a real estate blog and all, could be a buzzing West Village culinary hotspot?
· Listing: 430 Hudson Street [RKF]
· More Townhouses coverage [Curbed]