The 134-unit apartment building at 28 East 10th Street on the southeast corner at University Place is being offered for sale through Eastern Consolidated with a value of more than $140 million.
The handsome building, which is known as the Devonshire House, was built in 1928 and was designed by Emery Roth.
The brown-brick, 12-story building is notable for its very ornate rooftop watertank enclosure and it is across University Place from two other brown-brick apartment buildings at the 10th Street intersection of the about the same vintage.
The building has 68 unregulated units, three of which are medical offices, 52 rent-stabilized units, 14 rent-controlled units and 8,200 square feet of ground floor retail space comprised of ten stores.
The building has an Elizabethan-style lobby.
"There is an incredible upside to this acquisition," according to Eric M. Anton of Eastern Consolidated, who added that "the new owner could opt to convert the building to condominiums."
There is excellent public transportation and good local retail and restaurants nearby and the building is not far from Washington Square Park.
The handsome building, which is known as the Devonshire House, was built in 1928 and was designed by Emery Roth.
The brown-brick, 12-story building is notable for its very ornate rooftop watertank enclosure and it is across University Place from two other brown-brick apartment buildings at the 10th Street intersection of the about the same vintage.
The building has 68 unregulated units, three of which are medical offices, 52 rent-stabilized units, 14 rent-controlled units and 8,200 square feet of ground floor retail space comprised of ten stores.
The building has an Elizabethan-style lobby.
"There is an incredible upside to this acquisition," according to Eric M. Anton of Eastern Consolidated, who added that "the new owner could opt to convert the building to condominiums."
There is excellent public transportation and good local retail and restaurants nearby and the building is not far from Washington Square Park.
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Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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