52 Eighth Avenue

Three story mixed use building situated in a premier retail and residential location on Eighth Avenue in West Village. The townhouse consists of a ground floor bar with a lease until 2008 with an option to extend until 2013. The bar's lease is at about $80 per square foot or 53% of market which would provide tremendous upside upon the expiration of the lease. The second and third floors feature a duplex apartment with a large deck, which can be delivered vacant. Although the property is located in the Greenwich Village Historic District, it benefits from significant remaining air rights.