Real Estate Industry News

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The pre-renovation interior of a rare Nolita carriage house.

Compass

A unique carriage house tucked away behind a garden in Manhattan’s Nolita neighborhood, an area known more for its tenement buildings and ultra-luxury new developments, is on the market for $10 million.

&quot;Housing stock in Nolita is not generally single family,&quot; says listing agent Stephen Ferrara of Compass. &quot;And having a house that is set back from the street is extremely rare.&quot;

The vine-covered building is accessed from a garden set back from Spring Street.

Compass

Built in 1905, the vine-covered building at 18 Spring Street, in a neighborhood named for being &quot;north of Little Italy,&quot; is made up of five one-bedroom apartments with five separate owners, though it is not technically a coop — the ownership structure is a general partnership, Ferrara said. The owners are selling the building as a whole after several decades.

Renderings show the building turned into a single-family home with a roof addition.

Compass

The purchaser could turn the 4,000-square-foot building into a single-family home, generate rental income or convert it into a condominium, with nearly 3,000 square feet of air rights.

Listing photos show one of the apartments renovated when it was on a market in 2013, though the new owners of the unit have since made additional changes.

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The pre-renovation interior of a rare Nolita carriage house.

Compass

A unique carriage house tucked away behind a garden in Manhattan’s Nolita neighborhood, an area known more for its tenement buildings and ultra-luxury new developments, is on the market for $10 million.

“Housing stock in Nolita is not generally single family,” says listing agent Stephen Ferrara of Compass. “And having a house that is set back from the street is extremely rare.”

The vine-covered building is accessed from a garden set back from Spring Street.

Compass

Built in 1905, the vine-covered building at 18 Spring Street, in a neighborhood named for being “north of Little Italy,” is made up of five one-bedroom apartments with five separate owners, though it is not technically a coop — the ownership structure is a general partnership, Ferrara said. The owners are selling the building as a whole after several decades.

Renderings show the building turned into a single-family home with a roof addition.

Compass

The purchaser could turn the 4,000-square-foot building into a single-family home, generate rental income or convert it into a condominium, with nearly 3,000 square feet of air rights.

Listing photos show one of the apartments renovated when it was on a market in 2013, though the new owners of the unit have since made additional changes.

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As a journalist in the New York, I’ve written about everything from the post-recession housing market in Fairfield County, Conn., to the third-home market in the Hamptons.

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As a journalist in the New York, I’ve written about everything from the post-recession housing market in Fairfield County, Conn., to the third-home market in the Hamptons.