101 East 10th Street: Review and Ratings

Review of 101 East 10th Street by Carter Horsley

Slate Property Group and RWN Real Estate Partners, the private equity arm of Ari Shalam’s RWN Management, jointly acquired the vacant, five-floor residential component of a six-story East Village dormitory building at 101 East Tenth Street in the East Village for $25.9 million in 2014 with plans to convert it to rentals.

They hired Aufgang Architects for the project but subsequently decided to add three floors and hired Grasso Menziuso Architects.

The building, which has ground floor retail, has 57 rental apartments and was scheduled for completion in 2016.

The original building, which is also known as 47-53 Third Avenue, was developed in 2007 as a residence hall for The School of Visual Arts that held a 10-year, triple-net lease on the site.

Bottom Line

With a very prime East Village location two blocks north of Cooper Union and St. Mark’s Place and a block east of the very beautiful Grace Episcopal Church, this mid-rise building in convenient to many shops, restaurants and public transportation.

Description

This plain but attractive red-brick building has a ground-floor bank branch and discrete air-conditioners.

Amenities

The building has a part-time doorman.

Apartments

Apartment 2 on floors 4 through 6 is a one-bedroom unit with a long entry foyer that leads to an open kitchen and a 13-foot-long living room.

Apartment 3 on floors 4 through 6 is a one-bedroom unit with an open, pass-through kitchen and a 13-foot-long living room.

Apartment 1 on floors 4 through 6 is a studio unit with a 22-foot-long living room with an open kitchen with an island.